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The fund has $5,188,475 in total assets. If the fund’s annual losses stay the same, it would run out of money in 44 years without these subsidies.
The fund earned $291,321 in investment income and other revenue in 2018. At the same time, it paid out $411,867 in expenses, according to the 2019 biennial report detailing the health of each of the state’s pension funds and retirement systems. The difference between the two shows the fund’s annual loss without subsidies.
Taxpayers added $138,868 to the fund’s revenue last year – an amount that has decreased from $251,712 five years ago. Members contributed an additional $102,857 – $9,801 less than five years ago.
In all, subsidies amounted to $241,725 in 2018.
Riverdale Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $291,321 | $411,867 | -$120,546 |
| 2017 | $324,751 | $360,377 | -$35,626 |
| 2016 | -$124,779 | $345,634 | -$470,413 |
| 2015 | $296,477 | $374,872 | -$78,395 |
| 2014 | $32,944 | $302,626 | -$269,682 |
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