Analysis: Galesburg pays $7.96 for every $1 pensioners contribute to Galesburg Fire Fighters Pension Fund

By Local Labs News Service

May 15, 2018

Taxpayers contributed 88.8 percent of the $2,360,260 the Galesburg Fire Fighters Pension Fund brought in last year, or $7.96 for every $1 from pension members, according to a Galesburg Reporter analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Galesburg contributed $2,096,966 to the fund, which saw a $257,715 decrease in revenue over 2015. Members contributed $263,295, or 11.2 percent, in 2016.

Galesburg Fire Fighters Pension Fund revenue over 5 years

	2012	2013	2014	2015	2016	Change 2012-2016
Municipality	$1,330,584	$1,453,831	$1,600,784	$2,328,400	$2,096,966	57.6%
Pension members	$254,149	$263,025	$257,374	$289,576	$263,295	3.6%
Other Revenue	$0	$0	-$-1	-$-1	-$-1	-
Total	$1,584,733	$1,716,856	$1,858,157	$2,617,975	$2,360,260	48.9%