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The fund has $1,190,439 in total assets. If the fund’s annual losses stay the same, it would run out of money in 14 years without these subsidies.
The fund lost $4,901 in investment income and other revenue in 2018. At the same time, it paid out $83,532 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 $150,341 to the fund’s revenue last year – an amount that has decreased from $157,371 five years ago. Members contributed an additional $27,853 – $743 more than five years ago.
In all, subsidies amounted to $178,194 in 2018.
Staunton Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$4,901 | $83,532 | -$88,433 |
| 2017 | $10,972 | $89,465 | -$78,493 |
| 2016 | $10,677 | $72,203 | -$61,526 |
| 2015 | $24,401 | $86,687 | -$62,286 |
| 2014 | $20,371 | $67,478 | -$47,107 |
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