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The fund has $40,673,483 in total assets. If the fund’s annual losses stay the same, it would run out of money in seven years without these subsidies.
The fund lost $1,962,554 in investment income and other revenue in 2018. At the same time, it paid out $4,180,534 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 $4,035,618 to the fund’s revenue last year – an amount that has increased from $2,411,833 five years ago. Members contributed an additional $466,052 – $23,080 more than five years ago.
In all, subsidies amounted to $4,501,670 in 2018.
Highland Park Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$1,962,554 | $4,180,534 | -$6,143,088 |
| 2017 | $5,055,992 | $3,881,755 | $1,174,237 |
| 2016 | $1,223,023 | $3,668,206 | -$2,445,183 |
| 2015 | $737,552 | $3,469,581 | -$2,732,029 |
| 2014 | $1,875,768 | $3,329,964 | -$1,454,196 |
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