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The fund has $5,528,842 in total assets. If the fund’s annual losses stay the same, it would run out of money in 40 years without these subsidies.
The fund earned $279,580 in investment income and other revenue in 2018. At the same time, it paid out $419,429 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 $334,374 to the fund’s revenue last year – an amount that has decreased from $407,665 five years ago. Members contributed an additional $78,163 – $6,797 more than five years ago.
In all, subsidies amounted to $412,537 in 2018.
Litchfield Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $279,580 | $419,429 | -$139,849 |
| 2017 | $314,790 | $358,123 | -$43,333 |
| 2016 | -$72,361 | $354,596 | -$426,957 |
| 2015 | $252,753 | $369,405 | -$116,652 |
| 2014 | $299,076 | $405,966 | -$106,890 |
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