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The fund has $13,189,265 in total assets. If the fund’s annual losses stay the same, it would run out of money in 16 years without these subsidies.
The fund lost $639,246 in investment income and other revenue in 2018. At the same time, it paid out $233,283 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 $765,753 to the fund’s revenue last year – an amount that has increased from $490,968 five years ago. Members contributed an additional $342,590 – $15,059 more than five years ago.
In all, subsidies amounted to $1,108,343 in 2018.
Homer Township FPD Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$639,246 | $233,283 | -$872,529 |
| 2017 | $1,427,881 | $133,757 | $1,294,124 |
| 2016 | $611,932 | $176,459 | $435,473 |
| 2015 | $100,456 | $90,791 | $9,665 |
| 2014 | $464,448 | $44,536 | $419,912 |
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