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Friday, November 22, 2024

Analysis: Mount Carmel pays $4.96 for every $1 pensioners contribute to Mount Carmel Police Pension Fund

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Taxpayers contributed 83.2 percent of the $305,217 the Mount Carmel Police Pension Fund brought in 2018, or $4.96 for every $1 from pension members, according to a SE Illinois News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Mount Carmel contributed $254,082 to the fund, which saw a $2,805 increase in revenue over 2017. Members contributed $51,135, or 16.8 percent, in 2018.

Mount Carmel Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$193,446$200,438$227,832$251,798$254,08231.3%
Pension members$48,409$50,103$51,688$50,613$51,1355.6%
Other Revenue-$-1$0$0$1$0100%
Total$241,854$250,541$279,520$302,412$305,21726.2%

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