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Monday, December 23, 2024

Analysis: Milan pays $26.06 for every $1 pensioners contribute to Milan Police Pension Fund

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Taxpayers contributed 95.8 percent of the $3,796,394 the Milan Police Pension Fund brought in 2018, or $26.06 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 $3,637,334 to the fund, which saw a $3,380,943 increase in revenue over 2017. Members contributed $139,571, or 3.7 percent, in 2018. Another $19,489 came from other unspecified sources.

Milan Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$273,517$354,420$291,676$320,013$3,637,3341229.8%
Pension members$84,216$89,655$95,972$95,438$139,57165.7%
Other Revenue$0$0$1$0$19,489-
Total$357,733$444,075$387,649$415,451$3,796,394961.2%

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