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Lake County Gazette

Tuesday, November 5, 2024

Report: Lake Villa FPD Firefighter's Pension Fund lost $10,979 in investment income in 2018

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After projecting its investments would grow by 5.8 percent, the Lake Villa FPD Firefighter's Pension Fund lost 0.3 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 Lake Villa FPD Firefighter's Pension Fund's had $3,296,150 in investment assets last year. It paid $0 in investment expenses and lost $10,979 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.

Lake Villa FPD Firefighter's Pension Fund investment performance
20142015201620172018
Investment assets$299,576$306,895$306,689$306,639$3,296,150
Investment expenses$0$0$5$0$0
Investment income$1,088$700$655$808-$10,979
Net investment income to assets0.40.20.20.3-0.3
Actuarial assumption55555.8

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