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Galesburg Reporter

Thursday, May 16, 2024

Analysis: Monmouth pays $4.46 for every $1 pensioners contribute to Monmouth Police Pension Fund

Budget 10

Taxpayers contributed 81.7 percent of the $601,326 the Monmouth Police Pension Fund brought in last year, or $4.46 for every $1 from pension members, according to a Galesburg Reporter analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Monmouth contributed $491,232 to the fund, which saw a $21,984 increase in revenue over 2015. Members contributed $110,094, or 18.3 percent, in 2016.

Monmouth Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$381,493$358,606$414,053$455,561$491,23228.8%
Pension members$106,856$107,660$111,070$123,782$110,0943%
Other Revenue$0$0-$-1-$-1$0-
Total$488,349$466,266$525,122$579,342$601,32623.1%

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