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Metro East Sun

Tuesday, November 5, 2024

Report: Venice Police Pension Fund gained $575 in investment income in 2016

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After projecting its investments would grow by 5.00 percent, the Venice Police Pension Fund netted 0.14 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 Venice Police Pension Fund's had $399,418 in investment assets last year. It paid $0 in investment expenses and gained $575 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.

Venice Police Pension Fund investment performance
20122013201420152016
Investment assets$493,504$482,814$513,656$450,934$399,418
Investment expenses$0$316$438$357$0
Investment income$2,073$1,109$1,046$624$575
Net investment income to assets0.42%0.16%0.12%0.06%0.14%
Actuarial assumption5.00%5.00%5.00%5.00%5.00%

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