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The fund has $18,604,782 in total assets. If the fund’s annual losses stay the same, it would run out of money in 17 years without these subsidies.
The fund earned $934,047 in investment income and other revenue in 2018. At the same time, it paid out $2,036,686 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 $1,445,650 to the fund’s revenue last year – an amount that has increased from $1,146,147 five years ago. Members contributed an additional $235,170 – $8,855 more than five years ago.
In all, subsidies amounted to $1,680,820 in 2018.
Hillside Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $934,047 | $2,036,686 | -$1,102,639 |
| 2017 | $1,330,312 | $1,887,388 | -$557,076 |
| 2016 | $163,853 | $1,642,288 | -$1,478,435 |
| 2015 | $1,136,292 | $1,615,563 | -$479,271 |
| 2014 | $1,107,673 | $1,560,954 | -$453,281 |
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