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Thursday, November 21, 2024

Report: Silvis Firefighters Pension Fund gained $12,051 in investment income in 2016

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After projecting its investments would grow by 5.00 percent, the Silvis Firefighters Pension Fund netted 2.49 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 Silvis Firefighters Pension Fund's had $426,765 in investment assets last year. It paid $1,418 in investment expenses and gained $12,051 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.

Silvis Firefighters Pension Fund investment performance
20122013201420152016
Investment assets$290,179$312,033$342,242$382,570$426,765
Investment expenses$0$0$281$1,157$1,418
Investment income$2,739$3,474$5,977$16,386$12,051
Net investment income to assets0.94%1.11%1.66%3.98%2.49%
Actuarial assumption5.00%5.00%5.00%5.00%5.00%

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