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The fund has $1,157,538 in total assets. If the fund’s annual losses stay the same, it would run out of money in 10 years without these subsidies.
The fund earned $2,060 in investment income and other revenue in 2018. At the same time, it paid out $128,243 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 $76,705 to the fund’s revenue last year – an amount that has increased from $55,519 five years ago. Members contributed an additional $19,109 – $5,152 less than five years ago.
In all, subsidies amounted to $95,814 in 2018.
Newport Township FPD Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $2,060 | $128,243 | -$126,183 |
| 2017 | $17,583 | $20,567 | -$2,984 |
| 2016 | $29,045 | $14,645 | $14,400 |
| 2015 | $42,265 | $13,934 | $28,331 |
| 2014 | -$908 | $12,042 | -$12,950 |
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