The fund has $28,081,213 in total assets. If the funds annual losses were the same, it would run out of money in 10 years without these subsidies.
The fund lost $463,449 in investment income and other revenue in 2016. At the same time, it paid out $2,460,290 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 $1,577,451 to the funds revenue last year – an amount that has increased from $1,411,688 five years ago. Members contributed an additional $425,591 – $64,715 more than five years ago.
In all, subsidies amounted to $2,003,042 in 2016.
Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
---|---|---|---|
2016 | -$463,449 | $2,460,290 | -$2,923,739 |
2015 | $1,816,275 | $2,417,090 | -$600,815 |
2014 | $2,655,928 | $2,256,781 | $399,147 |
2013 | $1,952,660 | $2,214,377 | -$261,717 |
2012 | $742,734 | $2,187,767 | -$1,445,033 |