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Monday, May 6, 2024

Report: Steger Police Pension Fund lost $308,497 in investment income in 2018

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After projecting its investments would grow by 6.3 percent, the Steger Police Pension Fund lost 6.1 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 Steger Police Pension Fund's had $5,364,974 in investment assets last year. It paid $19,703 in investment expenses and lost $308,497 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.

Steger Police Pension Fund investment performance
20142015201620172018
Investment assets$5,493,917$5,317,029$5,432,898$5,660,791$5,364,974
Investment expenses$12,893$19,265$18,860$19,211$19,703
Investment income$26,745-$153,784$175,603$299,874-$308,497
Net investment income to assets0.3-3.32.95-6.1
Actuarial assumption6.56.56.56.36.3

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