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Friday, November 22, 2024

Report: Tinley Park Police Pension Fund lost $54,847 in investment income in 2016

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After projecting its investments would grow by 6.75 percent, the Tinley Park Police Pension Fund lost 0.27 percent on its investments in 2016, 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 Tinley Park Police Pension Fund's had $59,353,369 in investment assets last year. It paid $106,733 in investment expenses and lost $54,847 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.

Tinley Park Police Pension Fund investment performance
20122013201420152016
Investment assets$45,843,204$50,424,787$55,017,037$59,200,564$59,353,369
Investment expenses$126,385$93,350$98,291$105,691$106,733
Investment income$1,653,577$4,348,201$4,421,256$4,116,737-$54,847
Net investment income to assets3.33%8.44%7.86%6.78%-0.27%
Actuarial assumption6.75%6.75%6.75%6.75%6.75%

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