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Peoria Standard

Saturday, November 23, 2024

Analysis: Pekin pays $3.70 for every $1 pensioners contribute to Pekin Police Pension Fund

Budget 13

Taxpayers contributed 78.9 percent of the $1,998,735 the Pekin Police Pension Fund brought in last year, or $3.70 for every $1 from pension members, according to a Peoria Standard analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Pekin contributed $1,577,451 to the fund, which saw a $54,699 increase in revenue over 2015. Members contributed $425,591, or 21.3 percent, in 2016.

Pekin Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$1,411,688$1,692,432$1,444,877$1,534,236$1,577,45111.7%
Pension members$360,876$368,708$457,179$408,953$425,59117.9%
Other Revenue-$-1-$-1$71,235$847-$4,307-430600%
Total$1,772,563$2,061,139$1,973,291$1,944,036$1,998,73512.8%

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