Analysis: Markham Police Pension Fund would go broke in 14 years without taxpayer subsidy
The fund has $17,041,819 in total assets. If the funds annual losses were the same, it would run out of money in 14 years without these subsidies.
The fund lost $269,498 in investment income and other revenue in 2016. At the same time, it paid out $955,271 in expenses, according to the 2017 biennial report detailing the health of each of the states pension funds and retirement systems. The difference between the two shows the funds annual loss without subsidies.
Taxpayers added $955,232 to the funds revenue last year – an amount that has increased from $400,931 five years ago. Members contributed an additional $263,551 – $38,377 less than five years ago.
In all, subsidies amounted to $1,218,783 in 2016.