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The fund has $12,673,085 in total assets. If the fund’s annual losses stay the same, it would run out of money in 22 years without these subsidies.
The fund earned $1,079,102 in investment income and other revenue in 2018. At the same time, it paid out $1,674,808 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 $1,067,106 to the fund’s revenue last year – an amount that has increased from $907,117 five years ago. Members contributed an additional $189,608 – $32,622 more than five years ago.
In all, subsidies amounted to $1,256,714 in 2018.
Ottawa Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $1,079,102 | $1,674,808 | -$595,706 |
| 2017 | $1,042,139 | $1,618,337 | -$576,198 |
| 2016 | -$189,405 | $1,579,979 | -$1,769,384 |
| 2015 | $461,231 | $1,527,657 | -$1,066,426 |
| 2014 | $600,522 | $1,376,064 | -$775,542 |
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