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The fund has $16,149,760 in total assets. If the fund’s annual losses stay the same, it would run out of money in 20 years without these subsidies.
The fund earned $1,138,169 in investment income and other revenue in 2018. At the same time, it paid out $1,987,963 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 $735,723 to the fund’s revenue last year – an amount that has increased from $34,671 five years ago. Members contributed an additional $308,865 – $32,117 less than five years ago.
In all, subsidies amounted to $1,044,588 in 2018.
Harvey Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $1,138,169 | $1,987,963 | -$849,794 |
| 2017 | $1,427,290 | $1,999,760 | -$572,470 |
| 2016 | -$284,015 | $1,708,084 | -$1,992,099 |
| 2015 | $1,036,454 | $1,746,719 | -$710,265 |
| 2014 | $1,586,651 | $1,856,246 | -$269,595 |
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