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The DOI biennial report detailing the health of each of the pension funds shows the Summit Police Pension Fund's had $9,326,249 in investment assets last year. It paid $15,960 in investment expenses and lost $540,039 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.
Summit Police Pension Fund investment performance
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Investment assets | $8,530,027 | $8,656,963 | $8,903,884 | $9,632,881 | $9,326,249 |
| Investment expenses | $12,502 | $13,201 | $16,300 | $12,747 | $15,960 |
| Investment income | $270,773 | -$31,654 | $198,159 | $753,371 | -$540,039 |
| Net investment income to assets | 3 | -0.5 | 2 | 7.7 | -6 |
| Actuarial assumption | 6.5 | 6.5 | 6.5 | 5.8 | 5.8 |
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