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The fund has $323,491 in total assets. If the fund’s annual losses stay the same, it would run out of money in 180 years without these subsidies.
The fund earned $616 in investment income and other revenue in 2018. At the same time, it paid out $2,419 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 $36,609 to the fund’s revenue last year – an amount that has increased from $11,970 five years ago. Members contributed an additional $8,400 – $1,490 more than five years ago.
In all, subsidies amounted to $45,009 in 2018.
Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
---|---|---|---|
2018 | $616 | $2,419 | -$1,803 |
2017 | $266 | $0 | $266 |
2016 | $221 | $0 | $221 |
2015 | $102 | $2,060 | -$1,958 |
2014 | $81 | $0 | $81 |