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South Central Reporter

Friday, November 1, 2024

Report: Hillsboro Firefighter's Pension Fund gained $2,433 in investment income in 2016

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After projecting its investments would grow by 5.00 percent, the Hillsboro Firefighter's Pension Fund netted 0.26 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 Hillsboro Firefighter's Pension Fund's had $760,079 in investment assets last year. It paid $439 in investment expenses and gained $2,433 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.

Hillsboro Firefighter's Pension Fund investment performance
20122013201420152016
Investment assets$560,335$619,758$675,169$709,462$760,079
Investment expenses$0$0$0$0$439
Investment income$11,093$22,357$18,677$18,770$2,433
Net investment income to assets1.98%3.61%2.77%2.65%0.26%
Actuarial assumption5.00%5.00%5.00%5.00%5.00%

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