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Carbon retirement fund hits all-time high

Published May 20. 2011 05:00PM

Carbon County's retirement fund has hit an all-time high.

During the monthly meeting of the county retirement board on Thursday, Robert Crampsie, county controller and secretary of the retirement board, announced that the fund's value as of April 30 was $66,781,743, up $1,553,696 from the previous month's report.

"We're happy to report that our all-time high, hit in October 2007, was $66.2 million," he said. "At the end of April, we're at $66.8 million."

He pointed out that last year, the county paid out $4.2 million in benefits and refunds to employees who retired or left employment.

"Even in light of paying out $4.2 million, we are at our all-time high."

Crampsie said that the fund has been doing well and credited Mark Gensheimer of C.S. McKee Investment Managers in Pittsburgh, who was present at the meeting, for helping the county's retirement portfolio rebound so significantly.

Gensheimer thanked the board for the company's opportunity to manage its money and reported that the first quarter was relatively steady, even though numerous events that normally create volatility in the market occurred.

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