The fund has $11,629,356 in total assets. If the funds annual losses were the same, it would run out of money in seven years without these subsidies.
The fund lost $264,568 in investment income and other revenue in 2016. At the same time, it paid out $1,432,734 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 $730,357 to the funds revenue last year – an amount that has increased from $700,017 five years ago. Members contributed an additional $229,505 – $51,218 more than five years ago.
In all, subsidies amounted to $959,862 in 2016.
Charleston Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2016 | -$264,568 | $1,432,734 | -$1,697,302 |
| 2015 | $781,669 | $1,223,019 | -$441,350 |
| 2014 | $662,917 | $1,168,479 | -$505,562 |
| 2013 | $1,184,537 | $1,174,833 | $9,704 |
| 2012 | $434,789 | $1,155,911 | -$721,122 |
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