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Thursday, November 21, 2024

Report: Mount Vernon Police Pension Fund gained $1,538,851 in investment income in 2018

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After projecting its investments would grow by 6.5 percent, the Mount Vernon Police Pension Fund netted 8 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 Mount Vernon Police Pension Fund's had $18,901,692 in investment assets last year. It paid $29,144 in investment expenses and gained $1,538,851 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.

Mount Vernon Police Pension Fund investment performance
20142015201620172018
Investment assets$16,735,639$17,393,934$16,784,554$18,003,206$18,901,692
Investment expenses$27,424$28,063$27,984$28,217$29,144
Investment income$1,614,998$1,211,315-$320,893$1,825,621$1,538,851
Net investment income to assets9.56.8-2.1108
Actuarial assumption6.86.86.86.56.5

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