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Tuesday, November 5, 2024

Report: Markham Police Pension Fund lost $215,899 in investment income in 2016

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After projecting its investments would grow by 6.75 percent, the Markham Police Pension Fund lost 1.59 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 Markham Police Pension Fund's had $16,985,499 in investment assets last year. It paid $54,935 in investment expenses and lost $215,899 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.

Markham Police Pension Fund investment performance
20122013201420152016
Investment assets$13,135,552$14,288,436$15,552,108$16,827,295$16,985,499
Investment expenses$25,258$28,925$32,552$25,739$54,935
Investment income$369,389$1,103,501$1,087,386$928,873-$215,899
Net investment income to assets2.62%7.52%6.78%5.37%-1.59%
Actuarial assumption6.75%6.75%6.75%6.75%6.75%

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