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Will County Gazette

Sunday, May 19, 2024

Analysis: New Lenox pays $2.96 for every $1 pensioners contribute to New Lenox Police Pension Fund

Budget 05

Taxpayers contributed 74.9 percent of the $1,384,372 the New Lenox Police Pension Fund brought in last year, or $2.96 for every $1 from pension members, according to a Will County Gazette analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, New Lenox contributed $1,036,551 to the fund, which saw a $151,180 increase in revenue over 2015. Members contributed $349,488, or 25.2 percent, in 2016.

New Lenox Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$797,917$725,623$816,376$898,871$1,036,55129.9%
Pension members$323,073$288,154$305,015$327,606$349,4888.2%
Other Revenue$0$269-$113$6,715-$1,667-
Total$1,120,990$1,014,046$1,121,278$1,233,192$1,384,37223.5%

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