Analysis: Pontoon Beach Police Pension Fund would go broke in nine years without taxpayer subsidy
The fund has $3,510,725 in total assets. If the funds annual losses were the same, it would run out of money in nine years without these subsidies.
The fund lost $19,869 in investment income and other revenue in 2016. At the same time, it paid out $407,648 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 $355,241 to the funds revenue last year – an amount that has increased from $306,319 five years ago. Members contributed an additional $87,472 – $2,774 more than five years ago.
In all, subsidies amounted to $442,713 in 2016.