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Rock Island Today

Friday, November 22, 2024

Analysis: Milan pays $3.03 for every $1 pensioners contribute to Milan Police Pension Fund

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Taxpayers contributed 75.2 percent of the $387,649 the Milan Police Pension Fund brought in last year, or $3.03 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, Milan contributed $291,676 to the fund, which saw a $56,426 decrease in revenue over 2015. Members contributed $95,972, or 24.8 percent, in 2016. Another $1 came from other unspecified sources.

Milan Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$276,335$277,057$273,517$354,420$291,6765.6%
Pension members$80,781$80,214$84,216$89,655$95,97218.8%
Other Revenue$32,823$1$0$0$1-100%
Total$389,939$357,272$357,733$444,075$387,649-0.6%

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