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East Central Reporter

Tuesday, November 5, 2024

Report: Olney Police Pension Fund gained $379,356 in investment income in 2018

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After projecting its investments would grow by 5.5 percent, the Olney Police Pension Fund netted 7.7 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 Olney Police Pension Fund's had $4,931,893 in investment assets last year. It paid $0 in investment expenses and gained $379,356 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.

Olney Police Pension Fund investment performance
20142015201620172018
Investment assets$3,999,376$4,151,325$4,135,899$4,489,416$4,931,893
Investment expenses$0$0$0$0$0
Investment income$184,031$196,519$26,451$323,940$379,356
Net investment income to assets4.64.70.67.27.7
Actuarial assumption6665.55.5

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