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East Central Reporter

Tuesday, November 5, 2024

Report: Mattoon Police Pension Fund lost $687,049 in investment income in 2016

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After projecting its investments would grow by 6.75 percent, the Mattoon Police Pension Fund lost 4.36 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 Police Pension Fund's had $15,983,992 in investment assets last year. It paid $9,433 in investment expenses and lost $687,049 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 Police Pension Fund investment performance
20122013201420152016
Investment assets$14,757,926$15,413,741$16,417,409$17,141,930$15,983,992
Investment expenses$0$0$3,381$5,374$9,433
Investment income$290,111$1,058,831$1,383,006$1,028,294-$687,049
Net investment income to assets1.97%6.87%8.40%5.97%-4.36%
Actuarial assumption6.75%6.75%6.75%6.75%6.75%

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