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The fund has $10,590,614 in total assets. If the fund’s annual losses stay the same, it would run out of money in 11 years without these subsidies.
The fund lost $496,497 in investment income and other revenue in 2018. At the same time, it paid out $551,790 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 $412,878 to the fund’s revenue last year – an amount that has decreased from $433,312 five years ago. Members contributed an additional $196,540 – $30,393 more than five years ago.
In all, subsidies amounted to $609,418 in 2018.
Palos Heights FPD Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$496,497 | $551,790 | -$1,048,287 |
| 2017 | $1,201,113 | $535,354 | $665,759 |
| 2016 | $474,952 | $503,510 | -$28,558 |
| 2015 | $114,409 | $504,628 | -$390,219 |
| 2014 | $533,355 | $472,182 | $61,173 |
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