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Lake County Gazette

Tuesday, November 5, 2024

Analysis: Waukegan pays $4.37 for every $1 pensioners contribute to Waukegan Firefighters Pension Fund

Budget 10

Taxpayers contributed 81.3 percent of the $5,413,950 the Waukegan Firefighters Pension Fund brought in last year, or $4.37 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, Waukegan contributed $4,401,280 to the fund, which saw a $450,958 decrease in revenue over 2015. Members contributed $1,006,352, or 18.6 percent, in 2016. Another $6,318 came from other unspecified sources.

Waukegan Firefighters Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$4,083,106$3,669,198$3,901,179$4,900,036$4,401,2807.8%
Pension members$861,129$895,783$927,589$962,482$1,006,35216.9%
Other Revenue-$142,953-$39,169-$17,625$2,390$6,318104.4%
Total$4,801,282$4,525,812$4,811,143$5,864,908$5,413,95012.8%

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