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Friday, November 22, 2024

Report: Oak Lawn Firefighters Pension Fund lost $4,612,525 in investment income in 2018

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After projecting its investments would grow by 6.5 percent, the Oak Lawn Firefighters Pension Fund lost 6.8 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 Lawn Firefighters Pension Fund's had $70,182,179 in investment assets last year. It paid $131,925 in investment expenses and lost $4,612,525 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 Lawn Firefighters Pension Fund investment performance
20142015201620172018
Investment assets$72,644,484$68,096,314$69,787,008$78,307,308$70,182,179
Investment expenses$182,744$104,038$95,628$95,147$131,925
Investment income$4,095,814-$1,617,602$4,391,058$11,275,542-$4,612,525
Net investment income to assets5.4-2.56.214.3-6.8
Actuarial assumption6.86.86.86.56.5

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