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The fund has $49,968,306 in total assets. If the fund’s annual losses stay the same, it would run out of money in nine years without these subsidies.
The fund lost $2,213,720 in investment income and other revenue in 2018. At the same time, it paid out $3,452,438 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 $1,964,794 to the fund’s revenue last year – an amount that has increased from $1,692,954 five years ago. Members contributed an additional $561,545 – $2,553 less than five years ago.
In all, subsidies amounted to $2,526,339 in 2018.
Wheeling Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$2,213,720 | $3,452,438 | -$5,666,158 |
| 2017 | $6,183,757 | $3,079,823 | $3,103,934 |
| 2016 | $2,445,984 | $2,699,035 | -$253,051 |
| 2015 | -$216,948 | $2,553,349 | -$2,770,297 |
| 2014 | $2,624,967 | $2,234,782 | $390,185 |
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