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Carbon County retirement fund rebounds

Carbon County's retirement fund rebounded after a significant loss in September.

On Thursday, Robert Crampsie, county controller and secretary to the retirement board, reported that as of Oct. 30, the fund's value was $72,101,778, an increase of over $2.5 million from last month's report."We had a little bit of a bounce back," he said.Crampsie also introduced two guests, Mark Gensheimer of C.S. McKee L.P. of Pittsburgh; and Michael Shone of the Peirce Park Group Investment Management Consultants of West Chester.Both guests spoke about the economic markets, future projections and reported that the county retirement fund is performing well overall.Shone also spoke about the Pennsylvania County Pension Database, which outlines county pension performance.A total of 47 of the 67 counties filed information for the report.Shone said after highlighting a few points, such as the county's funded ratio, which is just over 100 percent funded, that Carbon County is doing "significantly better than the majority of counties."The funded ratio is affected on the county's liabilities and the economic markets, as well as county actions such as hirings and salary increases. The higher the liabilities, the lower the funded ratio.