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Kankakee Times

Wednesday, December 18, 2024

Report: Manteno Community FPD Firefighters Pension Fund gained $22,136 in investment income in 2016

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After projecting its investments would grow by 6.00 percent, the Manteno Community FPD Firefighters Pension Fund netted 0.08 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 Manteno Community FPD Firefighters Pension Fund's had $4,821,181 in investment assets last year. It paid $18,380 in investment expenses and gained $22,136 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.

Manteno Community FPD Firefighters Pension Fund investment performance
20122013201420152016
Investment assets$3,002,771$3,318,142$3,788,098$4,289,356$4,821,181
Investment expenses$14,336$25,973$28,674$30,356$18,380
Investment income$60,097$6,664$150,417$190,257$22,136
Net investment income to assets1.52%-0.58%3.21%3.73%0.08%
Actuarial assumption6.00%6.00%6.00%6.00%6.00%

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