Report: Carol Stream FPD Firefighters Pension Fund lost $801,579 in investment income in 2016
After projecting its investments would grow by 6.75 percent, the Carol Stream FPD Firefighters Pension Fund lost 2.47 percent on its investments in 2016, according to data reported to the Illinois Department of Insurance Pension Division.
The DOI biennial report detailing the health of each of the pension funds shows the Carol Stream FPD Firefighters Pension Fund's had $34,561,160 in investment assets last year. It paid $52,330 in investment expenses and lost $801,579 in investment income.
Pension funds and retirement systems set actuarial assumptions to project returns on investments to cover obligations to pensioners. When they fall short, the difference has to be made up from other sources – primarily from taxpayers and member contributions.
| 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|
| Investment assets | $26,387,079 | $30,619,975 | $34,229,556 | $35,523,471 | $34,561,160 |
| Investment expenses | $58,580 | $61,344 | $61,070 | $52,264 | $52,330 |
| Investment income | -$303,972 | $4,093,306 | $3,329,073 | $1,443,446 | -$801,579 |
| Net investment income to assets | -1.37% | 13.17% | 9.55% | 3.92% | -2.47% |
| Actuarial assumption | 6.75% | 6.75% | 6.75% | 6.75% | 6.75% |