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Quincy Reporter

Monday, December 23, 2024

Report: Quincy Firefighters Pension Fund gained $3,271,553 in investment income in 2018

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After projecting its investments would grow by 6.5 percent, the Quincy Firefighters Pension Fund netted 9.7 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 Quincy Firefighters Pension Fund's had $32,492,629 in investment assets last year. It paid $125,695 in investment expenses and gained $3,271,553 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.

Quincy Firefighters Pension Fund investment performance
20142015201620172018
Investment assets$26,138,285$27,378,771$27,043,819$29,500,790$32,492,629
Investment expenses$131,430$161,715$141,364$133,060$125,695
Investment income$2,421,715$1,810,375$281,244$2,986,280$3,271,553
Net investment income to assets8.860.59.79.7
Actuarial assumption6.86.86.86.56.5

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