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Monday, December 23, 2024

Report: East St Louis Firefighters Pension Fund lost $193,087 in investment income in 2018

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After projecting its investments would grow by 5.5 percent, the East St Louis Firefighters Pension Fund lost 4.5 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 St Louis Firefighters Pension Fund's had $5,571,916 in investment assets last year. It paid $55,468 in investment expenses and lost $193,087 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 St Louis Firefighters Pension Fund investment performance
20142015201620172018
Investment assets$10,799,269$8,595,156$6,799,143$7,238,123$5,571,916
Investment expenses$85,684$79,791$63,552$98,801$55,468
Investment income$609,470-$55,580$427,215$918,155-$193,087
Net investment income to assets4.9-1.65.411.3-4.5
Actuarial assumption6.86.56.55.55.5

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