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Dupage Policy Journal

Sunday, December 22, 2024

Report: West Chicago FPD Firefighters Pension Fund lost $379,416 in investment income in 2016

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After projecting its investments would grow by 6.75 percent, the West Chicago FPD Firefighters Pension Fund lost 1.31 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 West Chicago FPD Firefighters Pension Fund's had $29,227,292 in investment assets last year. It paid $4,455 in investment expenses and lost $379,416 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.

West Chicago FPD Firefighters Pension Fund investment performance
20122013201420152016
Investment assets$22,855,167$25,997,607$28,797,464$30,011,763$29,227,292
Investment expenses$5,925$5,250$4,940$4,970$4,455
Investment income$190,320$3,090,435$2,673,251$1,379,157-$379,416
Net investment income to assets0.81%11.87%9.27%4.58%-1.31%
Actuarial assumption6.75%6.75%6.75%6.75%6.75%

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