Quantcast

West Cook News

Friday, November 22, 2024

Report: Oak Park Police Pension Fund lost $6,999,468 in investment income in 2018

Adobestock 329938866

Adobe Stock

Adobe Stock

After projecting its investments would grow by 6.5 percent, the Oak Park Police Pension Fund lost 8 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 Oak Park Police Pension Fund's had $90,292,112 in investment assets last year. It paid $257,297 in investment expenses and lost $6,999,468 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.

Oak Park Police Pension Fund investment performance
20142015201620172018
Investment assets$86,391,689$83,807,156$87,035,983$98,690,396$90,292,112
Investment expenses$274,385$272,185$259,693$222,813$257,297
Investment income$4,814,232-$292,736$5,113,212$13,385,688-$6,999,468
Net investment income to assets5.3-0.75.613.3-8
Actuarial assumption6.86.86.86.56.5

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS