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Thursday, April 18, 2024

Analysis: Sterling pays $4.05 for every $1 pensioners contribute to Sterling Police Pension Fund

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Taxpayers contributed 80.2 percent of the $876,976 the Sterling Police Pension Fund brought in last year, or $4.05 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, Sterling contributed $703,470 to the fund, which saw a $65,150 increase in revenue over 2015. Members contributed $173,505, or 19.8 percent, in 2016. Another $1 came from other unspecified sources.

Sterling Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$474,438$496,305$601,394$645,238$703,47048.3%
Pension members$161,631$162,705$169,625$166,568$173,5057.3%
Other Revenue$8,115$11$0$20$1-100%
Total$644,184$659,021$771,019$811,826$876,97636.1%

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