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Illinois Valley Times

Saturday, November 2, 2024

Report: Mendota Firefighters Pension Fund gained $66,060 in investment income in 2016

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After projecting its investments would grow by 6.00 percent, the Mendota Firefighters Pension Fund netted 2.36 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 Mendota Firefighters Pension Fund's had $2,564,268 in investment assets last year. It paid $5,532 in investment expenses and gained $66,060 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.

Mendota Firefighters Pension Fund investment performance
20122013201420152016
Investment assets$2,026,985$2,187,711$2,282,453$2,445,530$2,564,268
Investment expenses$7,213$4,933$4,957$5,193$5,532
Investment income$126,516$92,587$29,878$97,181$66,060
Net investment income to assets5.89%4.01%1.09%3.76%2.36%
Actuarial assumption5.00%5.00%5.00%5.00%6.00%

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