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The fund has $34,798,766 in total assets. If the fund’s annual losses stay the same, it would run out of money in 132 years without these subsidies.
The fund earned $2,548,921 in investment income and other revenue in 2018. At the same time, it paid out $2,812,700 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 $932,393 to the fund’s revenue last year – an amount that has increased from $782,624 five years ago. Members contributed an additional $295,035 – $24,220 more than five years ago.
In all, subsidies amounted to $1,227,428 in 2018.
Freeport Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $2,548,921 | $2,812,700 | -$263,779 |
| 2017 | $2,865,143 | $2,518,891 | $346,252 |
| 2016 | -$578,247 | $2,402,040 | -$2,980,287 |
| 2015 | $1,978,194 | $2,321,013 | -$342,819 |
| 2014 | $3,373,482 | $2,257,606 | $1,115,876 |
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