The fund has $14,524,216 in total assets. If the funds annual losses were the same, it would run out of money in five years without these subsidies.
The fund lost $189,469 in investment income and other revenue in 2016. At the same time, it paid out $3,232,895 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 $1,322,316 to the funds revenue last year – an amount that has increased from $1,221,781 five years ago. Members contributed an additional $362,071 – $2,672 more than five years ago.
In all, subsidies amounted to $1,684,387 in 2016.
Granite City Firefighters Pension Fund C/O Gail Va non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2016 | -$189,469 | $3,232,895 | -$3,422,364 |
| 2015 | $1,141,016 | $3,033,550 | -$1,892,534 |
| 2014 | $1,321,815 | $2,821,618 | -$1,499,803 |
| 2013 | $1,193,264 | $2,567,532 | -$1,374,268 |
| 2012 | $454,151 | $2,537,819 | -$2,083,668 |
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