Carbon County Retirement Fund continues to show improvement
The Carbon County Retirement Fund continues to rebound after it took a major hit in 2008.
During the monthly meeting of the county retirement board on Thursday, Robert Crampsie, county controller and secretary of the retirement board, announced that the retirement portfolio value as of Jan. 31, was $63,719,222.
Crampsie then reported that the overall value is continuing to improve.
"We did pick up about $1 million in the month of January in performance," Crampsie said, adding that the increase is helping to bring the county's retirement fund balance back up to its previous high balance. In 2007, the retirement fund was hovering near the $66 million mark but a very volatile stock market sent it crashing down by the end of 2008. By the end of that year, the fund's balance was $47,684,152, which represented a negative 24-percent return for the year.
Since then, the fund has been on a rollercoaster ride, dropping even further through February 2009. In March, 2009, the county posted its first positive month in the stock market.
Since then, the fund has performed well, recovering nearly all of the money that was lost during the recession two years ago.