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DeKalb Times

Monday, April 29, 2024

Analysis: Genoa pays $8.86 for every $1 pensioners contribute to Genoa Police Pension Fund

Budget 03

Taxpayers contributed 89.9 percent of the $392,800 the Genoa Police Pension Fund brought in 2018, or $8.86 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 $353,000 to the fund, which saw a $20,852 increase in revenue over 2017. Members contributed $39,799, or 10.1 percent, in 2018. Another $1 came from other unspecified sources.

Genoa Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$179,120$206,688$221,541$331,300$353,00097.1%
Pension members$38,232$39,117$41,473$40,648$39,7994.1%
Other Revenue$0$0$0$0$1-
Total$217,352$245,805$263,014$371,948$392,80080.7%

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