Analysis: Elgin pays $4.88 for every $1 pensioners contribute to Elgin Firefighters Pension Fund

By Kane County Reporter

Jul 12, 2020

Taxpayers contributed 82.9 percent of the $7,470,104 the Elgin Firefighters Pension Fund brought in 2018, or $4.88 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 $6,193,093 to the fund, which saw a $49,567 increase in revenue over 2017. Members contributed $1,266,642, or 17 percent, in 2018. Another $10,369 came from other unspecified sources.

Elgin Firefighters Pension Fund revenue over 5 years

	2014	2015	2016	2017	2018	Change 2014-2018
Municipality	$3,690,051	$6,875,630	$5,824,657	$6,111,021	$6,193,093	67.8%
Pension members	$1,146,223	$1,197,974	$1,331,992	$1,286,742	$1,266,642	10.5%
Other Revenue	$12,852	-$16,444	$27,199	$22,774	$10,369	-19.3%
Total	$4,849,126	$8,057,160	$7,183,848	$7,420,537	$7,470,104	54.1%