The fund has $6,845,968 in total assets. If the funds annual losses were the same, it would run out of money in 18 years without these subsidies.
The fund lost $106,943 in investment income and other revenue in 2016. At the same time, it paid out $280,316 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 $301,401 to the funds revenue last year – an amount that has increased from $237,800 five years ago. Members contributed an additional $116,921 – $18,859 more than five years ago.
In all, subsidies amounted to $418,322 in 2016.
Crete Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2016 | -$106,943 | $280,316 | -$387,259 |
| 2015 | $413,313 | $417,458 | -$4,145 |
| 2014 | $516,567 | $308,169 | $208,398 |
| 2013 | $707,311 | $270,759 | $436,552 |
| 2012 | -$51,107 | $276,484 | -$327,591 |
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