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Grundy Reporter

Saturday, November 23, 2024

Analysis: Coal City pays $6.84 for every $1 pensioners contribute to Coal City Police Pension Fund

Budget 09

Taxpayers contributed 87.2 percent of the $581,058 the Coal City Police Pension Fund brought in 2018, or $6.84 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 $506,931 to the fund, which saw a $193,047 increase in revenue over 2017. Members contributed $74,077, or 12.7 percent, in 2018. Another $50 came from other unspecified sources.

Coal City Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$208,489$222,246$299,400$308,185$506,931143.1%
Pension members$60,677$142,487$79,760$79,826$74,07722.1%
Other Revenue-$-1$1$0$0$505100%
Total$269,165$364,734$379,160$388,011$581,058115.9%

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