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Schuylkill County retirees not getting pension hike

For the fifth straight year the retirees from county jobs will not be getting any kind of an increase in their pensions as the Schuylkill County Salary Board at its monthly meeting held Wednesday at the courthouse in Pottsville again turned down their request.

Their reason, their assets management firm, Cornerstone Advisors Asset Management, advised them because of the fluctuating market that a cost increase is not feasible. Controller Melinda Kantner, who serves as secretary of the retirement board, claims a stipends of $200 to $500 could be substituted and paid from the county's general fund as the county instead of having a deficit at the end of the year is expected to end with a surplus.The report on the market value of the retirement fund showed how it has been fluctuating. As of October 31 the market value was $96,000,405 but as of this day the market value was $94,847,155.The commissioners' financial staff is currently preparing a budget for 2012 which will be presented to the commissioners at a public meeting later this month and it will not include any increases for the pensioners.