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Rock Island Today

Thursday, May 16, 2024

Analysis: Geneseo pays $5.05 for every $1 pensioners contribute to Geneseo Police Pension Fund

Budget 11

Taxpayers contributed 82.7 percent of the $498,839 the Geneseo Police Pension Fund brought in 2018, or $5.05 for every $1 from pension members, according to a Rock Island Today analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Geneseo contributed $412,709 to the fund, which saw a $98,343 increase in revenue over 2017. Members contributed $81,687, or 16.4 percent, in 2018. Another $4,443 came from other unspecified sources.

Geneseo Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$210,000$224,268$269,577$316,737$412,70996.5%
Pension members$68,697$75,739$77,718$81,935$81,68718.9%
Other Revenue$0$0$34,986$1,824$4,443-
Total$278,697$300,007$382,281$400,496$498,83979%

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