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Tuesday, December 24, 2024

Analysis: Sterling pays $10.15 for every $1 pensioners contribute to Sterling Firefighters Pension Fund

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Taxpayers contributed 91 percent of the $1,271,307 the Sterling Firefighters Pension Fund brought in 2018, or $10.15 for every $1 from pension members, according to a NW Illinois News analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Sterling contributed $1,157,342 to the fund, which saw a $165,020 increase in revenue over 2017. Members contributed $113,962, or 9 percent, in 2018. Another $3 came from other unspecified sources.

Sterling Firefighters Pension Fund revenue over 5 years
20142015201620172018Change 2014-2018
Municipality$499,578$610,272$689,721$998,670$1,157,342131.7%
Pension members$105,119$101,431$104,793$107,617$113,9628.4%
Other Revenue$331$0$0$0$3-99.1%
Total$605,028$711,703$794,514$1,106,287$1,271,307110.1%

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