Carbon County's retirement fund took a slight hit in July after hitting its all-time high in June.

During the monthly meeting of the county retirement board on Thursday, Robert Crampsie, county controller and secretary to the retirement board, reported that the fund is healthy.The retirement portfolio value as of July 31 was $74,319,865, $952,951 lower than June's value of $75,272,816.Crampsie also reported that the county has finally heard back from the Internal Revenue Service regarding the board's determination paperwork that updated its pension plan to meet the IRS's codes. The paperwork was filed in January 2011.He said that the IRS finally approved the determination letter.In other matters, Crampsie said that state Sen. John Yudichak told him that Senate Bill 1078, which deals with changing the cost-of-living increase requirements on counties, was passed in the Senate. It now goes to the House of Representatives for consideration.The legislation, if passed, will change the way cost-of-living raises can be given. Currently, if the county would decide to give retirees a cost-of-living increase, it would be required to catch up every year that no raise was given, adding to the liability.The legislation proposes that counties would be able to give a cost-of-living raise for just one year.Crampsie urged the retirement board to contact the state representatives to tell them how important it is to get this legislation passed.