The fund has $27,773,066 in total assets. If the funds annual losses were the same, it would run out of money in eight years without these subsidies.
The fund earned $139,565 in investment income and other revenue in 2016. At the same time, it paid out $3,691,807 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 $2,714,895 to the funds revenue last year – an amount that has increased from $1,912,484 five years ago. Members contributed an additional $511,802 – $97,552 more than five years ago.
In all, subsidies amounted to $3,226,697 in 2016.
Niles Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2016 | $139,565 | $3,691,807 | -$3,552,242 |
| 2015 | $848,259 | $3,406,429 | -$2,558,170 |
| 2014 | $951,689 | $3,258,215 | -$2,306,526 |
| 2013 | $1,793,977 | $3,169,446 | -$1,375,469 |
| 2012 | $183,773 | $3,118,769 | -$2,934,996 |
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