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The fund has $22,415,876 in total assets. If the fund’s annual losses stay the same, it would run out of money in 16 years without these subsidies.
The fund earned $1,404,487 in investment income and other revenue in 2018. At the same time, it paid out $2,850,834 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 $2,705,606 to the fund’s revenue last year – an amount that has increased from $2,231,894 five years ago. Members contributed an additional $485,714 – $37,427 less than five years ago.
In all, subsidies amounted to $3,191,320 in 2018.
Kankakee Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $1,404,487 | $2,850,834 | -$1,446,347 |
| 2017 | $1,523,591 | $2,789,391 | -$1,265,800 |
| 2016 | -$316,496 | $2,608,796 | -$2,925,292 |
| 2015 | $1,084,641 | $2,550,512 | -$1,465,871 |
| 2014 | $1,099,914 | $2,355,369 | -$1,255,455 |
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