Employee retirement board receives some good news
For the first time in many months the Schuylkill County Employees Retirement Board received good news on the fund's financial standing.
Controller Melinda Kantner, secretary of the board, reported the market value of the fund as of Wednesday, Oct. 13, had increased to $90,047,246, which is a gain of slightly more than $4 million in one month.
The fund is managed by 10 financial firms and all reported increases in the funds they manage for the retirees.
Emerald Advisors Inc. increased from $2,813,205 to $3,210,052, a gain of $763,358; Evergreen Asset Management, from $9,490,118 to $10,538,709, a gain of $317.307; Metropolitan West Capital Management, from $9,531, 951 to $10,395,706, a gain of $873,755; Sterling Capital Management, from $2,685,445 to $2,002,752, a gain of $317,307; Shares S and P 500, from $7,704,157 to $8,337,734, a gain of $633,577; International Funds Alloction, from $7,209,989 to $7,972,347, a gain of $762,358; PIMCO All Asset Fund, from $6,685,237 to $6,863,831, a gain of $178,594; Nationwide Group Annuity, from $4,027,903 to $4,040,854, a gain of $12,951; Liquid Alternatives, from $2,568,784 to $2,696,286, a gain of $109,502; and Barrow, Hanley, Mewhinney and Strauss, from $11,024, 921 to $11,070,353, a gain of $45,432.
During the month of September four members received annuities totaling $766,909; five members received refunds totaling $128,847,43; one member received a rollover of $1,545.59 and three retirees No action was taken and no comment was made on the request by retirees, who appeared several weeks before the board requesting a cost of living increase.
Serving on the retirement board are Commissiones Mantura Gallagher, Francis McAndrew and Frank Staudenmeier, Treasurer Jacqueline McGovern and Kantner.