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The fund has $27,289,107 in total assets. If the fund’s annual losses stay the same, it would run out of money in 20 years without these subsidies.
The fund earned $1,282,764 in investment income and other revenue in 2018. At the same time, it paid out $2,709,265 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 $10,901,273 to the fund’s revenue last year – an amount that has increased from $1,059,167 five years ago. Members contributed an additional $395,548 – $6,720 more than five years ago.
In all, subsidies amounted to $11,296,821 in 2018.
Granite City Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $1,282,764 | $2,709,265 | -$1,426,501 |
| 2017 | $1,668,623 | $2,547,580 | -$878,957 |
| 2016 | -$393,568 | $2,270,383 | -$2,663,951 |
| 2015 | $857,079 | $2,148,073 | -$1,290,994 |
| 2014 | $1,355,218 | $2,087,717 | -$732,499 |
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