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The fund has $216,496,874 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 $10,586,143 in investment income and other revenue in 2018. At the same time, it paid out $14,262,161 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 $15,495,791 to the fund’s revenue last year – an amount that has increased from $13,610,557 five years ago. Members contributed an additional $3,108,245 – $107,801 less than five years ago.
In all, subsidies amounted to $18,604,036 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$10,586,143 | $14,262,161 | -$24,848,304 |
| 2017 | $26,522,447 | $13,452,544 | $13,069,903 |
| 2016 | $12,454,199 | $12,937,825 | -$483,626 |
| 2015 | -$1,302,774 | $12,247,351 | -$13,550,125 |
| 2014 | $7,202,322 | $11,522,008 | -$4,319,686 |
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