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Monday, December 23, 2024

Report: Northlake Police Pension Fund lost $706,814 in investment income in 2018

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After projecting its investments would grow by 6.5 percent, the Northlake Police Pension Fund lost 3.4 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 Northlake Police Pension Fund's had $22,360,359 in investment assets last year. It paid $51,649 in investment expenses and lost $706,814 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.

Northlake Police Pension Fund investment performance
20142015201620172018
Investment assets$16,202,754$16,333,983$17,205,169$19,637,025$22,360,359
Investment expenses$42,289$42,933$43,539$47,665$51,649
Investment income$857,602$76,922$731,137$2,196,685-$706,814
Net investment income to assets50.2410.9-3.4
Actuarial assumption6.86.86.86.56.5

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