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The fund has $214,445,413 in total assets. If the fund’s annual losses stay the same, it would run out of money in 10 years without these subsidies.
The fund lost $7,356,253 in investment income and other revenue in 2018. At the same time, it paid out $15,917,427 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 $14,593,748 to the fund’s revenue last year – an amount that has increased from $10,092,419 five years ago. Members contributed an additional $3,415,938 – $479,216 more than five years ago.
In all, subsidies amounted to $18,009,686 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$7,356,253 | $15,917,427 | -$23,273,680 |
| 2017 | $28,271,009 | $15,063,314 | $13,207,695 |
| 2016 | $11,189,486 | $14,070,731 | -$2,881,245 |
| 2015 | $1,173,271 | $12,896,752 | -$11,723,481 |
| 2014 | $9,276,148 | $12,024,841 | -$2,748,693 |
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