The fund has $2,229 in total assets. If the funds annual losses were the same, it would run out of money in one year without these subsidies.
The fund earned $321 in investment income and other revenue in 2016. At the same time, it paid out $64,436 in expenses, according to the 2017 biennial report detailing the health of each of the states pension funds and retirement systems. The difference between the two shows the funds annual loss without subsidies.
Taxpayers added $60,207 to the funds revenue last year – an amount that has decreased from $77,645 five years ago. Members made no contributions this year.
In all, subsidies amounted to $60,207 in 2016.
Glencoe Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2016 | $321 | $64,436 | -$64,115 |
| 2015 | -$184 | $92,066 | -$92,250 |
| 2014 | -$112 | $88,986 | -$89,098 |
| 2013 | $36 | $92,114 | -$92,078 |
| 2012 | $169 | $106,374 | -$106,205 |
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