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Monday, May 20, 2024

Analysis: Savanna pays $5.80 for every $1 pensioners contribute to Savanna Police Pension Fund

Budget 08

Taxpayers contributed 85.3 percent of the $218,937 the Savanna Police Pension Fund brought in last year, or $5.80 for every $1 from pension members, according to a NW Illinois News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Savanna contributed $186,746 to the fund, which saw a $16,250 increase in revenue over 2015. Members contributed $32,191, or 14.7 percent, in 2016.

Savanna Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$148,084$151,067$159,058$173,591$186,74626.1%
Pension members$30,878$28,771$28,837$29,096$32,1914.3%
Other Revenue$0$0$1$0$0-
Total$178,962$179,838$187,896$202,687$218,93722.3%

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