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The fund has $2,207,386 in total assets. If the fund’s annual losses stay the same, it would run out of money in 11 years without these subsidies.
The fund earned $47,501 in investment income and other revenue in 2018. At the same time, it paid out $254,827 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 $241,314 to the fund’s revenue last year – an amount that has increased from $115,680 five years ago. Members contributed an additional $17,392 – $2,003 less than five years ago.
In all, subsidies amounted to $258,706 in 2018.
Olney Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $47,501 | $254,827 | -$207,326 |
| 2017 | $61,651 | $233,680 | -$172,029 |
| 2016 | $25,962 | $189,289 | -$163,327 |
| 2015 | $76,531 | $195,630 | -$119,099 |
| 2014 | $60,981 | $176,956 | -$115,975 |
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