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The fund has $20,063,955 in total assets. If the fund’s annual losses stay the same, it would run out of money in 251 years without these subsidies.
The fund earned $1,510,771 in investment income and other revenue in 2018. At the same time, it paid out $1,590,962 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 $656,264 to the fund’s revenue last year – an amount that has decreased from $764,596 five years ago. Members contributed an additional $259,049 – $12,965 more than five years ago.
In all, subsidies amounted to $915,313 in 2018.
Mount Vernon Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $1,510,771 | $1,590,962 | -$80,191 |
| 2017 | $1,798,114 | $1,705,681 | $92,433 |
| 2016 | -$348,745 | $1,358,525 | -$1,707,270 |
| 2015 | $1,183,424 | $1,297,095 | -$113,671 |
| 2014 | $1,587,811 | $1,243,061 | $344,750 |
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