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Galesburg Reporter

Thursday, October 2, 2025

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

Webp budget 01

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
20142015201620172018Change 2014-2018
Municipality$1,432,332$2,264,616$1,956,983$2,383,891$2,199,24953.5%
Pension members$314,238$464,316$326,120$466,106$357,68813.8%
Other Revenue$0$0$0$50$0-
Total$1,746,570$2,728,932$2,283,103$2,850,047$2,556,93746.4%

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