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Tuesday, November 5, 2024

Report: Lincoln Firefighters Pension Fund gained $585,689 in investment income in 2016

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After projecting its investments would grow by 6.50 percent, the Lincoln Firefighters Pension Fund netted 10.10 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 Lincoln Firefighters Pension Fund's had $5,742,494 in investment assets last year. It paid $5,644 in investment expenses and gained $585,689 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.

Lincoln Firefighters Pension Fund investment performance
20122013201420152016
Investment assets$5,928,859$5,558,767$5,665,786$5,435,913$5,742,494
Investment expenses$0$0$3,000$6,297$5,644
Investment income$27,068$80,008$471,783$29,362$585,689
Net investment income to assets0.46%1.44%8.27%0.42%10.10%
Actuarial assumption6.50%6.50%6.50%6.50%6.50%

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