Carbon County retirement fund drops nearly 1M in month
Carbon County's retirement fund dropped nearly $1 million in October.
During the monthly county retirement board meeting on Thursday, Robert Crampsie, county controller and secretary for the retirement board, announced that the retirement fund portfolio as of Oct. 31 was $62,456,314, down $973,338 from last month.
He also noted that he received word from the Hay Group, the company hired to provide portfolio services, regarding the county's estimated annual required contribution (ARC) for 2013.
Crampsie said that the county's estimated ARC is $1,190,000.
He pointed out that the actual ARC has been lower than the estimate in past years.
Last year, the estimate was $1,090,000, but the county's actual ARC turned out to be $663,000.
"I don't know if that is going to happen again this year, but it would be nice if it ended up coming in less than it is," he told the board.