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Grundy Reporter

Thursday, April 25, 2024

Analysis: Coal City pays $3.51 for every $1 pensioners contribute to Coal City Firefighter's Pension Fund

Budget 01

Taxpayers contributed 74.8 percent of the $247,431 the Coal City Firefighter's Pension Fund brought in last year, or $3.51 for every $1 from pension members, according to a Grundy Reporter analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Coal City contributed $185,112 to the fund, which saw a $40,593 increase in revenue over 2015. Members contributed $52,704, or 21.3 percent, in 2016. Another $9,615 came from other unspecified sources.

Coal City Firefighter's Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$88,080$50,000$184,291$150,020$185,112110.2%
Pension members$34,523$47,286$53,261$53,634$52,70452.7%
Other Revenue$0$1$0$3,184$9,615-
Total$122,603$97,287$237,552$206,838$247,431101.8%

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