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Will County Gazette

Sunday, December 22, 2024

Report: Northwest Homer FPD Firefighters Pension Fund gained $40,115 in investment income in 2016

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After projecting its investments would grow by 6.00 percent, the Northwest Homer FPD Firefighters Pension Fund netted 1.22 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 Northwest Homer FPD Firefighters Pension Fund's had $3,289,384 in investment assets last year. It paid $0 in investment expenses and gained $40,115 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.

Northwest Homer FPD Firefighters Pension Fund investment performance
20122013201420152016
Investment assets$2,523,965$2,709,697$2,845,450$3,073,024$3,289,384
Investment expenses$0$191$0$0$0
Investment income$63,326$30,787-$1,740$128,198$40,115
Net investment income to assets2.51%1.13%-0.06%4.17%1.22%
Actuarial assumption6.00%6.00%6.00%6.00%6.00%

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