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Schuylkill's retirement fund robust

Schuylkill County's retirement fund is the most robust it's been in years.

The account is now a tad more than 90 percent funded, meaning that "if we had to pay everybody out, we'd be able to pay out 90 percent of everybody's retirement, then we'd have to come up with the rest," said Deputy Controller Ron Zimmerman.The remainder would have to come out of the general fund, said Controller Christy Joy.In 2008, just before the recession hit, the fund was 101 percent funded. But by 2010, it had slipped to its lowest point, 83 percent. Then it began a slow upward climb of 84 percent in 2011, 2012 and 2013.By Jan. 1 of this year, the fund had climbed to $123,805,736. It has dipped a bit, but as of Wednesday morning stood at $122,561,352.04.The rise and fall of the fund follows the ebb and flow of the stock market."We are diversified," Joy said. "A rising tide lifts all boats."The county's annual required contribution this year is $2.6 million. Each mill of real estate taxes, currently at 13.98 mills, generates about $2 million. Last year it was $3.39 million.