The fund has $9,997,289 in total assets. If the funds annual losses were the same, it would run out of money in eight years without these subsidies.
The fund lost $216,265 in investment income and other revenue in 2016. At the same time, it paid out $1,106,761 in expenses, according to the 2017 biennial report detailing the health of each of the states pension funds and retirement systems. The difference between the two shows the funds annual loss without subsidies.
Taxpayers added $499,923 to the funds revenue last year – an amount that has increased from $450,229 five years ago. Members contributed an additional $116,866 – $12,227 more than five years ago.
In all, subsidies amounted to $616,789 in 2016.
Macomb Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2016 | -$216,265 | $1,106,761 | -$1,323,026 |
| 2015 | $721,093 | $1,049,189 | -$328,096 |
| 2014 | $604,423 | $972,696 | -$368,273 |
| 2013 | $944,845 | $885,211 | $59,634 |
| 2012 | $186,212 | $861,630 | -$675,418 |
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