The fund has $4,388,427 in total assets. If the funds annual losses were the same, it would run out of money in 14 years without these subsidies.
The fund earned $23,856 in investment income and other revenue in 2016. At the same time, it paid out $353,253 in expenses, according to the 2017 biennial report detailing the health of each of the states pension funds and retirement systems. The difference between the two shows the funds annual loss without subsidies.
Taxpayers added $299,429 to the funds revenue last year – an amount that has increased from $219,508 five years ago. Members contributed an additional $72,732 – $3,904 more than five years ago.
In all, subsidies amounted to $372,161 in 2016.
Pontiac Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2016 | $23,856 | $353,253 | -$329,397 |
| 2015 | $197,480 | $341,665 | -$144,185 |
| 2014 | -$73,839 | $332,651 | -$406,490 |
| 2013 | $392,735 | $356,371 | $36,364 |
| 2012 | $181,779 | $322,756 | -$140,977 |
Alerts Sign-up