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Galesburg Reporter

Thursday, May 16, 2024

Analysis: Monmouth pays $3.06 for every $1 pensioners contribute to Monmouth Police Pension Fund

Budget 06

Taxpayers contributed 75.4 percent of the $683,272 the Monmouth Police Pension Fund brought in 2018, or $3.06 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 $515,164 to the fund, which saw a $81,135 increase in revenue over 2017. Members contributed $168,109, or 24.6 percent, in 2018.

Monmouth Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$414,053$455,561$491,232$491,413$515,16424.4%
Pension members$111,070$123,782$110,094$110,723$168,10951.4%
Other Revenue-$-1-$-1$0$1-$-10%
Total$525,122$579,342$601,326$602,137$683,27230.1%

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