Carbon County retirement portfolio off to strong start
Carbon County is seeing its retirement portfolio rebound after it took a nose-dive at the end of last year.
During the monthly meeting of the retirement board on Thursday, Robert Crampsie, county controller and secretary to the retirement board, announced that the portfolio value as of Jan. 31, was $62,378,450, up just about $2.5 million from December.
"That is a little over a 4 percent return," he said. "So just for the month of January, we're like half way to our actuarial assumption of 7.5 percent. We're off to a great start. Just hoping that this year will be more of a steady ride than it had been."
At the end of 2011, the county's retirement portfolio's value hovered just under $60 million, which represented a year-end investment performance rate of return of just .037 percent, well under the annual actuarial assumption of 7.5 percent.
A very rocky economy, and unstable stock markets contributed to the fund's roller-coaster performance last year.