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Kane County Reporter

Saturday, May 11, 2024

Analysis: Elgin pays $4.37 for every $1 pensioners contribute to Elgin Firefighters Pension Fund

Budget 11

Taxpayers contributed 81.1 percent of the $7,183,848 the Elgin Firefighters Pension Fund brought in last year, or $4.37 for every $1 from pension members, according to a Kane County Reporter analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Elgin contributed $5,824,657 to the fund, which saw a $873,312 decrease in revenue over 2015. Members contributed $1,331,992, or 18.5 percent, in 2016. Another $27,199 came from other unspecified sources.

Elgin Firefighters Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$3,912,103$3,820,137$3,690,051$6,875,630$5,824,65748.9%
Pension members$1,092,311$1,153,428$1,146,223$1,197,974$1,331,99221.9%
Other Revenue$1,068-$14,232$12,852-$16,444$27,1992446.7%
Total$5,005,482$4,959,333$4,849,126$8,057,160$7,183,84843.5%

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