Adobe Stock
Adobe Stock
The DOI biennial report detailing the health of each of the pension funds shows the Newport Township FPD Firefighters Pension Fund's had $1,089,874 in investment assets last year. It paid $4,218 in investment expenses and gained $33,263 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.
Newport Township FPD Firefighters Pension Fund investment performance
2012 | 2013 | 2014 | 2015 | 2016 | |
---|---|---|---|---|---|
Investment assets | $731,757 | $827,229 | $891,353 | $1,001,421 | $1,089,874 |
Investment expenses | $2,579 | $3,148 | $3,409 | $3,843 | $4,218 |
Investment income | $36,551 | $31,709 | $2,501 | $46,108 | $33,263 |
Net investment income to assets | 4.64% | 3.45% | -0.10% | 4.22% | 2.66% |
Actuarial assumption | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |