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Lake County Gazette

Friday, November 22, 2024

Analysis: Waukegan pays $6.14 for every $1 pensioners contribute to Waukegan Police Pension Fund

Budget 03

Taxpayers contributed 85.6 percent of the $9,936,036 the Waukegan Police Pension Fund brought in 2018, or $6.14 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 $8,506,939 to the fund, which saw a $2,085,848 increase in revenue over 2017. Members contributed $1,385,451, or 13.9 percent, in 2018. Another $43,646 came from other unspecified sources.

Waukegan Police Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$5,694,120$7,092,838$6,286,274$6,460,711$8,506,93949.4%
Pension members$1,336,312$1,399,855$1,470,091$1,389,219$1,385,4513.7%
Other Revenue-$122$21,937$10,007$258$43,64635875.4%
Total$7,030,310$8,514,630$7,766,372$7,850,188$9,936,03641.3%

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