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Will County Gazette

Sunday, December 22, 2024

Analysis: New Lenox pays $3.79 for every $1 pensioners contribute to New Lenox Police Pension Fund

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Taxpayers contributed 79 percent of the $1,528,889 the New Lenox Police Pension Fund brought in 2018, or $3.79 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 $1,208,136 to the fund, which saw a $86,717 increase in revenue over 2017. Members contributed $318,159, or 20.8 percent, in 2018. Another $2,594 came from other unspecified sources.

New Lenox Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$816,376$898,871$1,036,551$1,103,893$1,208,13648%
Pension members$305,015$327,606$349,488$342,783$318,1594.3%
Other Revenue-$113$6,715-$1,667-$4,504$2,5942395.6%
Total$1,121,278$1,233,192$1,384,372$1,442,172$1,528,88936.4%

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