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DeKalb Times

Tuesday, November 5, 2024

Analysis: Genoa pays $5.34 for every $1 pensioners contribute to Genoa Police Pension Fund

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Taxpayers contributed 84.2 percent of the $263,014 the Genoa Police Pension Fund brought in last year, or $5.34 for every $1 from pension members, according to a DeKalb Times analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Genoa contributed $221,541 to the fund, which saw a $17,209 increase in revenue over 2015. Members contributed $41,473, or 15.8 percent, in 2016.

Genoa Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$161,840$168,800$179,120$206,688$221,54136.9%
Pension members$39,650$39,730$38,232$39,117$41,4734.6%
Other Revenue-$-1$0$0$0$0100%
Total$201,489$208,530$217,352$245,805$263,01430.5%

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