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Carbon retirement fund continues to rebound

Published October 16. 2009 05:00PM

Carbon County's retirement fund is continuing its steady rebound after it took a major hit in 2008 and the beginning of 2009.

During the monthly meeting of the county retirement board, which followed Thursday's commissioners' meeting, Robert Crampsie, county controller and secretary of the retirement board, announced that at the end of September, the portfolio balance for the fund was $56,099,750, a $1.7 million increase since the end of August and a nearly $12 million increase since February.

Crampsie said September was a good month.

"We're having a great bounce back from last year," he said.

He added that the year-to-date return for the fund so far is 18 percent. Last year, it closed at a negative 23 percent.

"Hopefully things will continue," Crampsie said.

The 2009 adjusted beginning balance of the county retirement fund was $47,534,500. A very volatile stock market in 2008 and early 2009, due to the shaky economy brought the retirement fund balance down to near the $40 million mark by February before the increases over the last five months. The county is still down $9 million from its high of over $65 million in 2007.

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