Quantcast

McHenry Times

Tuesday, November 5, 2024

Report: Algonquin Lake In The Hills FPD Pension Fund gained $238,025 in investment income in 2016

Adobestock 41036554

Adobe Stock

Adobe Stock

After projecting its investments would grow by 6.75 percent, the Algonquin Lake In The Hills FPD Pension Fund netted 0.93 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 Algonquin Lake In The Hills FPD Pension Fund's had $19,492,971 in investment assets last year. It paid $57,361 in investment expenses and gained $238,025 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.

Algonquin Lake In The Hills FPD Pension Fund investment performance
20122013201420152016
Investment assets$12,594,305$14,554,237$16,535,082$18,659,565$19,492,971
Investment expenses$33,537$46,874$50,691$54,539$57,361
Investment income$711,139$1,260,195$1,229,267$1,353,117$238,025
Net investment income to assets5.38%8.34%7.13%6.96%0.93%
Actuarial assumption6.75%6.75%6.75%6.75%6.75%

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS