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The fund has $1,925,063 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 earned $29,646 in investment income and other revenue in 2018. At the same time, it paid out $259,465 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 $234,213 to the fund’s revenue last year – an amount that has increased from $159,058 five years ago. Members contributed an additional $30,428 – $1,591 more than five years ago.
In all, subsidies amounted to $264,641 in 2018.
Savanna Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $29,646 | $259,465 | -$229,819 |
| 2017 | $27,464 | $226,098 | -$198,634 |
| 2016 | $26,339 | $226,808 | -$200,469 |
| 2015 | $23,987 | $241,974 | -$217,987 |
| 2014 | $24,147 | $298,531 | -$274,384 |
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