Analysis: Policemen's Annuity and Benefit Fund of Chicago would go broke in six years without taxpayer subsidy
The fund has $2,147,483,647 in total assets. If the funds annual losses were the same, it would run out of money in six years without these subsidies.
The fund earned $153,460,415 in investment income and other revenue in 2016. At the same time, it paid out $730,449,742 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 $281,583,230 to the funds revenue last year – an amount that has increased from $207,228,022 five years ago. Members contributed an additional $101,475,864 – $5,583,812 more than five years ago.
In all, subsidies amounted to $383,059,094 in 2016.