Analysis: Waukegan pays $5.94 for every $1 pensioners contribute to Waukegan Firefighters Pension Fund

By Lake County Gazette

Aug 15, 2020

Taxpayers contributed 84.7 percent of the $7,027,704 the Waukegan Firefighters Pension Fund brought in 2018, or $5.94 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 $5,951,000 to the fund, which saw a $1,531,702 increase in revenue over 2017. Members contributed $1,000,812, or 14.2 percent, in 2018. Another $75,892 came from other unspecified sources.

Waukegan Firefighters Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$3,901,179	$4,900,036	$4,401,280	$4,522,475	$5,951,000	52.5%
Pension members	$927,589	$962,482	$1,006,352	$974,028	$1,000,812	7.9%
Other Revenue	-$17,625	$2,390	$6,318	-$501	$75,892	530.6%
Total	$4,811,143	$5,864,908	$5,413,950	$5,496,002	$7,027,704	46.1%