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Grundy Reporter

Tuesday, November 5, 2024

Analysis: Coal City pays $3.75 for every $1 pensioners contribute to Coal City Police Pension Fund

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Taxpayers contributed 79 percent of the $379,160 the Coal City Police Pension Fund brought in last year, or $3.75 for every $1 from pension members, according to a Grundy Reporter analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Coal City contributed $299,400 to the fund, which saw a $14,426 increase in revenue over 2015. Members contributed $79,760, or 21 percent, in 2016.

Coal City Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$152,078$167,186$208,489$222,246$299,40096.9%
Pension members$57,912$56,823$60,677$142,487$79,76037.7%
Other Revenue$0$0-$-1$1$0-
Total$209,990$224,009$269,165$364,734$379,16080.6%

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