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

By Galesburg Reporter

Jul 3, 2020

Taxpayers contributed 86 percent of the $2,556,937 the Galesburg Police Pension Fund brought in 2018, or $6.14 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 $2,199,249 to the fund, which saw a $293,110 decrease in revenue over 2017. Members contributed $357,688, or 14 percent, in 2018.

Galesburg Police Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$1,432,332	$2,264,616	$1,956,983	$2,383,891	$2,199,249	53.5%
Pension members	$314,238	$464,316	$326,120	$466,106	$357,688	13.8%
Other Revenue	$0	$0	$0	$50	$0	-
Total	$1,746,570	$2,728,932	$2,283,103	$2,850,047	$2,556,937	46.4%