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Grundy Reporter

Tuesday, November 5, 2024

Analysis: Minooka pays $3.30 for every $1 pensioners contribute to Minooka Police Pension Fund

Budget 11

Taxpayers contributed 76.3 percent of the $616,214 the Minooka Police Pension Fund brought in last year, or $3.30 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, Minooka contributed $470,143 to the fund, which saw a $21,944 increase in revenue over 2015. Members contributed $142,223, or 23.1 percent, in 2016. Another $3,848 came from other unspecified sources.

Minooka Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$315,606$318,140$295,683$405,070$470,14349%
Pension members$129,080$133,946$132,152$185,864$142,22310.2%
Other Revenue$0$0$111$3,336$3,848-
Total$444,686$452,086$427,946$594,270$616,21438.6%

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