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The fund has $114,636,949 in total assets. If the fund’s annual losses stay the same, it would run out of money in nine years without these subsidies.
The fund lost $4,967,621 in investment income and other revenue in 2018. At the same time, it paid out $9,057,637 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 $8,604,338 to the fund’s revenue last year – an amount that has decreased from $10,498,071 five years ago. Members contributed an additional $1,936,667 – $174,564 less than five years ago.
In all, subsidies amounted to $10,541,005 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$4,967,621 | $9,057,637 | -$14,025,258 |
| 2017 | $15,349,958 | $8,147,604 | $7,202,354 |
| 2016 | $7,710,835 | $7,856,036 | -$145,201 |
| 2015 | $542,909 | $7,720,371 | -$7,177,462 |
| 2014 | $4,229,541 | $7,040,385 | -$2,810,844 |
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