Analysis: Park Ridge Firefighters Pension Fund would go broke in 14 years without taxpayer subsidy
The fund has $40,821,480 in total assets. If the funds annual losses were the same, it would run out of money in 14 years without these subsidies.
The fund earned $63,253 in investment income and other revenue in 2016. At the same time, it paid out $3,042,951 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 $1,846,200 to the funds revenue last year – an amount that has decreased from $1,970,636 five years ago. Members contributed an additional $439,597 – $53,198 more than five years ago.
In all, subsidies amounted to $2,285,797 in 2016.