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East Central Reporter

Tuesday, November 5, 2024

Report: Mattoon Firefighters Pension Fund lost $735,261 in investment income in 2016

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After projecting its investments would grow by 6.75 percent, the Mattoon Firefighters Pension Fund lost 5.09 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 Mattoon Firefighters Pension Fund's had $14,742,401 in investment assets last year. It paid $14,636 in investment expenses and lost $735,261 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.

Mattoon Firefighters Pension Fund investment performance
20122013201420152016
Investment assets$15,021,144$15,645,532$16,063,517$16,144,253$14,742,401
Investment expenses$46,398$19,105$935$8,918$14,636
Investment income$872,116$1,129,766$941,565$623,230-$735,261
Net investment income to assets5.50%7.10%5.86%3.81%-5.09%
Actuarial assumption6.75%6.75%6.75%6.75%6.75%

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