Analysis: Olney pays $9.79 for every $1 pensioners contribute to Olney Police Pension Fund

By East Central Reporter Reports

Jul 11, 2020

Taxpayers contributed 90.7 percent of the $710,407 the Olney Police Pension Fund brought in 2018, or $9.79 for every $1 from pension members, according to a East Central Reporter analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Olney contributed $644,586 to the fund, which saw a $59,575 increase in revenue over 2017. Members contributed $65,821, or 9.3 percent, in 2018.

Olney Police Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$364,400	$448,193	$464,954	$585,498	$644,586	76.9%
Pension members	$58,481	$60,942	$63,636	$65,334	$65,821	12.6%
Other Revenue	$0	$0	$0	$0	$0	-
Total	$422,881	$509,135	$528,590	$650,832	$710,407	68%