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The fund has $645,816 in total assets. If the fund’s annual losses stay the same, it would run out of money in 14 years without these subsidies.
The fund earned $2,884 in investment income and other revenue in 2018. At the same time, it paid out $50,852 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 $18,208 to the fund’s revenue last year – an amount that has decreased from $24,596 five years ago. Members made no contributions this year – $6,385 less than five years ago.
In all, subsidies amounted to $18,208 in 2018.
Signal Hill FPD Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $2,884 | $50,852 | -$47,968 |
| 2017 | $12,488 | $2,697 | $9,791 |
| 2016 | $2,557 | $915 | $1,642 |
| 2015 | $9,669 | $0 | $9,669 |
| 2014 | $19,066 | $1,884 | $17,182 |
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