Adobe Stock
Adobe Stock
The fund has $2,147,483,647 in total assets. If the fund’s annual losses stay the same, it would run out of money in 19 years without these subsidies.
The fund earned $936,983,275 in investment income and other revenue in 2018. At the same time, it paid out $1,593,472,893 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 $784,402,000 to the fund’s revenue last year – an amount that has increased from $650,416,141 five years ago. Members contributed an additional $183,679,205 – $4,166,860 less than five years ago.
In all, subsidies amounted to $968,081,205 in 2018.
Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
---|---|---|---|
2018 | $936,983,275 | $1,593,472,893 | -$656,489,618 |
2017 | $1,269,336,063 | $1,523,838,233 | -$254,502,170 |
2016 | $9,237,709 | $1,499,560,308 | -$1,490,322,599 |
2015 | $420,693,872 | $1,460,598,749 | -$1,039,904,877 |
2014 | $1,734,213,073 | $1,430,788,687 | $303,424,386 |