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South Cook News

Tuesday, November 5, 2024

Analysis: Calumet City pays $5.52 for every $1 pensioners contribute to Calumet City Firefighters Pension Fund

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Taxpayers contributed 84.7 percent of the $3,149,778 the Calumet City Firefighters Pension Fund brought in 2018, or $5.52 for every $1 from pension members, according to a South Cook News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Calumet City contributed $2,667,318 to the fund, which saw a $160,990 increase in revenue over 2017. Members contributed $482,360, or 15.3 percent, in 2018. Another $100 came from other unspecified sources.

Calumet City Firefighters Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$2,049,291$2,333,411$2,338,590$2,520,110$2,667,31830.2%
Pension members$455,339$458,174$489,874$467,099$482,3605.9%
Other Revenue$0$1-$198$1,579$100-
Total$2,504,630$2,791,586$2,828,266$2,988,788$3,149,77825.8%

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