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Friday, November 22, 2024

Report: East Moline Police Pension Fund lost $898,027 in investment income in 2018

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After projecting its investments would grow by 6.5 percent, the East Moline Police Pension Fund lost 5 percent on its investments in 2018, 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 East Moline Police Pension Fund's had $19,452,484 in investment assets last year. It paid $68,683 in investment expenses and lost $898,027 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.

East Moline Police Pension Fund investment performance
20142015201620172018
Investment assets$19,749,867$18,836,348$19,590,159$21,009,991$19,452,484
Investment expenses$28,897$30,325$43,630$51,311$68,683
Investment income$681,543-$278,550$1,571,087$2,111,422-$898,027
Net investment income to assets3.3-1.67.89.8-5
Actuarial assumption6.86.86.86.56.5

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