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The fund has $717 in total assets. If the fund’s annual losses stay the same, it would run out of money in one year without these subsidies.
The fund earned $255 in investment income and other revenue in 2018. At the same time, it paid out $58,593 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 $58,379 to the fund’s revenue last year – an amount that has increased from $55,644 five years ago. Members made no contributions this year.
In all, subsidies amounted to $58,379 in 2018.
Lyons Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $255 | $58,593 | -$58,338 |
| 2017 | $138 | $58,593 | -$58,455 |
| 2016 | $52 | $58,780 | -$58,728 |
| 2015 | $7 | $56,662 | -$56,655 |
| 2014 | $2 | $55,009 | -$55,007 |
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