Analysis: Schaumburg Firefighters Pension Fund would go broke in 11 years without taxpayer subsidy
The fund has $104,455,271 in total assets. If the funds annual losses were the same, it would run out of money in 11 years without these subsidies.
The fund lost $2,911,752 in investment income and other revenue in 2016. At the same time, it paid out $6,979,403 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 $3,764,945 to the funds revenue last year – an amount that has decreased from $3,920,495 five years ago. Members contributed an additional $1,072,444 – $102,472 more than five years ago.
In all, subsidies amounted to $4,837,389 in 2016.