Adobe Stock
Adobe Stock
The fund has $193,723,543 in total assets. If the fund’s annual losses stay the same, it would run out of money in eight years without these subsidies.
The fund lost $6,822,629 in investment income and other revenue in 2018. At the same time, it paid out $20,365,612 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 $4,087,391 to the fund’s revenue last year – an amount that has increased from $3,136,752 five years ago. Members contributed an additional $3,127,980 – $482,816 more than five years ago.
In all, subsidies amounted to $7,215,371 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$6,822,629 | $20,365,612 | -$27,188,241 |
| 2017 | $31,774,329 | $19,450,710 | $12,323,619 |
| 2016 | $11,417,370 | $20,290,661 | -$8,873,291 |
| 2015 | $3,373,509 | $19,728,803 | -$16,355,294 |
| 2014 | $14,344,056 | $18,557,540 | -$4,213,484 |
Alerts Sign-up