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The fund has $2,550,372 in total assets. If the fund’s annual losses stay the same, it would run out of money in nine years without these subsidies.
The fund earned $24,034 in investment income and other revenue in 2018. At the same time, it paid out $330,583 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 $365,236 to the fund’s revenue last year – an amount that has increased from $265,303 five years ago. Members contributed an additional $114,477 – $57,347 more than five years ago.
In all, subsidies amounted to $479,713 in 2018.
Fairfield Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $24,034 | $330,583 | -$306,549 |
| 2017 | $19,141 | $324,713 | -$305,572 |
| 2016 | $103,568 | $316,215 | -$212,647 |
| 2015 | $160,678 | $281,473 | -$120,795 |
| 2014 | $35,318 | $205,194 | -$169,876 |
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