The fund has $6,828,335 in total assets. If the funds annual losses were the same, it would run out of money in 16 years without these subsidies.
The fund lost $4,386 in investment income and other revenue in 2016. At the same time, it paid out $442,305 in expenses, according to the 2017 biennial report detailing the health of each of the states pension funds and retirement systems. The difference between the two shows the funds annual loss without subsidies.
Taxpayers added $408,503 to the funds revenue last year – an amount that has increased from $175,127 five years ago. Members contributed an additional $161,311 – $47,225 more than five years ago.
In all, subsidies amounted to $569,814 in 2016.
Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
---|---|---|---|
2016 | -$4,386 | $442,305 | -$446,691 |
2015 | $345,279 | $507,367 | -$162,088 |
2014 | $564,059 | $433,761 | $130,298 |
2013 | $435,506 | $390,799 | $44,707 |
2012 | $75,251 | $386,665 | -$311,414 |