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Galesburg Reporter

Wednesday, December 25, 2024

Analysis: Galesburg pays $6 for every $1 pensioners contribute to Galesburg Police Pension Fund

Budget 01

Taxpayers contributed 85.7 percent of the $2,283,103 the Galesburg Police Pension Fund brought in last year, or $6 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 $1,956,983 to the fund, which saw a $445,829 decrease in revenue over 2015. Members contributed $326,120, or 14.3 percent, in 2016.

Galesburg Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$937,749$1,396,761$1,432,332$2,264,616$1,956,983108.7%
Pension members$296,916$318,085$314,238$464,316$326,1209.8%
Other Revenue$0$0$0$0$0-
Total$1,234,665$1,714,846$1,746,570$2,728,932$2,283,10384.9%

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