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Lake County Gazette

Friday, November 22, 2024

Analysis: Waukegan pays $4.27 for every $1 pensioners contribute to Waukegan Police Pension Fund

Budget06

Taxpayers contributed 80.9 percent of the $7,766,372 the Waukegan Police Pension Fund brought in last year, or $4.27 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 $6,286,274 to the fund, which saw a $748,258 decrease in revenue over 2015. Members contributed $1,470,091, or 18.9 percent, in 2016. Another $10,007 came from other unspecified sources.

Waukegan Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$5,670,179$5,561,347$5,694,120$7,092,838$6,286,27410.9%
Pension members$1,164,275$1,176,233$1,336,312$1,399,855$1,470,09126.3%
Other Revenue-$227,226$86,075-$122$21,937$10,007104.4%
Total$6,607,228$6,823,655$7,030,310$8,514,630$7,766,37217.5%

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