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Saturday, May 18, 2024

Analysis: Madison pays $5.23 for every $1 pensioners contribute to Madison Police Pension Fund

Budget007

Taxpayers contributed 84 percent of the $409,137 the Madison Police Pension Fund brought in last year, or $5.23 for every $1 from pension members, according to a Metro East Sun analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Madison contributed $343,478 to the fund, which saw a $3,660 increase in revenue over 2015. Members contributed $65,659, or 16 percent, in 2016.

Madison Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$308,204$316,715$334,488$341,148$343,47811.4%
Pension members$62,623$60,316$65,510$64,330$65,6594.8%
Other Revenue$1$0$0-$-1$0-100%
Total$370,828$377,031$399,998$405,477$409,13710.3%

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