The fund has $24,460,259 in total assets. If the funds annual losses were the same, it would run out of money in 11 years without these subsidies.
The fund lost $457,288 in investment income and other revenue in 2016. At the same time, it paid out $1,833,821 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 $787,728 to the funds revenue last year – an amount that has increased from $521,828 five years ago. Members contributed an additional $325,100 – $6,727 less than five years ago.
In all, subsidies amounted to $1,112,828 in 2016.
Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
---|---|---|---|
2016 | -$457,288 | $1,833,821 | -$2,291,109 |
2015 | $1,662,240 | $1,857,455 | -$195,215 |
2014 | $2,015,230 | $1,740,687 | $274,543 |
2013 | $1,700,411 | $1,598,962 | $101,449 |
2012 | -$719,142 | $1,824,941 | -$2,544,083 |