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Lake County Gazette

Friday, November 22, 2024

Analysis: Island Lake pays $1.90 for every $1 pensioners contribute to Island Lake Police Pension Fund

Budget 02

Taxpayers contributed 65.5 percent of the $381,246 the Island Lake Police Pension Fund brought in last year, or $1.90 for every $1 from pension members, according to a Lake County Gazette analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Island Lake contributed $249,889 to the fund, which saw a $35,239 decrease in revenue over 2015. Members contributed $131,357, or 34.5 percent, in 2016.

Island Lake Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$178,005$216,619$229,487$244,810$249,88940.4%
Pension members$80,404$114,655$97,973$171,675$131,35763.4%
Other Revenue$0$754$51$0$0-
Total$258,409$332,028$327,511$416,485$381,24647.5%

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