Quantcast

South Cook News

Friday, November 22, 2024

Report: Robbins Police Pension Fund gained $58 in investment income in 2016

Adobestock 251268502

Adobe Stock

Adobe Stock

After projecting its investments would grow by 5.00 percent, the Robbins Police Pension Fund netted 0.02 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 Robbins Police Pension Fund's had $247,002 in investment assets last year. It paid $0 in investment expenses and gained $58 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.

Robbins Police Pension Fund investment performance
20122013201420152016
Investment assets$321,510$189,662$348,275$281,558$247,002
Investment expenses$0$0$0$0$0
Investment income$365$339$126$74$58
Net investment income to assets0.11%0.18%0.04%0.03%0.02%
Actuarial assumption5.00%5.00%5.00%5.00%5.00%

MORE NEWS