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The fund has $1,462,052,515 in total assets. If the fund’s annual losses stay the same, it would run out of money in six years without these subsidies.
The fund lost $97,966,467 in investment income and other revenue in 2018. At the same time, it paid out $168,033,181 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 $87,167,339 to the fund’s revenue last year – an amount that has increased from $73,906,168 five years ago. Members contributed an additional $21,032,601 – $2,057,647 more than five years ago.
In all, subsidies amounted to $108,199,940 in 2018.
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$97,966,467 | $168,033,181 | -$265,999,648 |
| 2017 | $199,445,312 | $160,947,772 | $38,497,540 |
| 2016 | $118,306,730 | $153,452,337 | -$35,145,607 |
| 2015 | $4,143,814 | $147,712,509 | -$143,568,695 |
| 2014 | $87,504,592 | $141,203,921 | -$53,699,329 |
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