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The fund has $195,044 in total assets. If the fund’s annual losses stay the same, it would run out of money in three years without these subsidies.
The fund earned $10,227 in investment income and other revenue in 2018. At the same time, it paid out $96,241 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 $50,012 to the fund’s revenue last year – an amount that has increased from $41,138 five years ago. Members made no contributions this year.
In all, subsidies amounted to $50,012 in 2018.
Posen Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $10,227 | $96,241 | -$86,014 |
| 2017 | $10,478 | $95,352 | -$84,874 |
| 2016 | -$1,226 | $91,447 | -$92,673 |
| 2015 | $9,403 | $83,208 | -$73,805 |
| 2014 | $6,965 | $80,622 | -$73,657 |
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