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The fund has $116,755,057 in total assets. If the fund’s annual losses stay the same, it would run out of money in seven years without these subsidies.
The fund lost $4,911,053 in investment income and other revenue in 2018. At the same time, it paid out $11,996,571 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 $10,462,704 to the fund’s revenue last year – an amount that has increased from $8,644,196 five years ago. Members contributed an additional $1,570,309 – $5,256 more than five years ago.
In all, subsidies amounted to $12,033,013 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$4,911,053 | $11,996,571 | -$16,907,624 |
| 2017 | $15,238,010 | $11,621,904 | $3,616,106 |
| 2016 | $7,544,857 | $11,094,711 | -$3,549,854 |
| 2015 | $430,706 | $10,496,364 | -$10,065,658 |
| 2014 | $8,675,132 | $9,959,982 | -$1,284,850 |
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