Analysis: River Forest Firefighters Pension Fund would go bankrupt in broke years without taxpayer subsidy
The fund has $14,154,191 in total assets. If the funds annual losses were the same, it would run out of money in seven years without these subsidies.
The fund lost $849,823 in investment income and other revenue in 2016. At the same time, it paid out $1,428,761 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 $946,756 to the funds revenue last year – an amount that has increased from $632,528 five years ago. Members contributed an additional $184,123 – $6,187 more than five years ago.
In all, subsidies amounted to $1,130,879 in 2016.