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Saturday, November 2, 2024

Report: Cicero Firefighters' Pension Fund lost $874,235 in investment income in 2018

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After projecting its investments would grow by 6 percent, the Cicero Firefighters' Pension Fund lost 3 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 Cicero Firefighters' Pension Fund's had $30,694,341 in investment assets last year. It paid $56,882 in investment expenses and lost $874,235 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.

Cicero Firefighters' Pension Fund investment performance
20142015201620172018
Investment assets$29,093,293$27,641,653$28,691,290$32,448,670$30,694,341
Investment expenses$136,890$131,571$136,877$141,320$56,882
Investment income$1,016,853-$258,059$1,768,707$3,952,918-$874,235
Net investment income to assets3-1.45.711.8-3
Actuarial assumption6.86.86.866

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