Retirement fund reaches a new high
Controller Cristy Joy reported to the Schuylkill County Employees Retirement Board that the retirement fund reached a new high and as of Wednesday the market value was $109,657,490.95.
The board has 11 financial firms located throughout the eastern part of the country managing the fund. His report was made at the monthly meeting of the board held Wednesday at the Schuylkill County Courthouse.
Two employees, who requested to buy back a leave of absents, had their request put on hold because the board's policy states repayment of time over a two year period must get board's permission. The board tabled the requests of Attorney Christopher Reidlinger, a public defender, and Lisa Yanek, employed in the Central Booking Office.
Four others were granted buy backs, Mark Scarbinsky, county administrator; Robert Schlack, prison employee; John Hayes, deputy sheriff; and Thomas Biddle, computer department.
Four persons who have left county employment were granted vesting which will allow them to leave their pension intact until they reach retirement age. They were, Attorney James Crossen, former assistant county solicitor; Matthew Morgan, probation officer; Jill Schaeffer, employed at Rest Haven Home; and Paul Straka, assistant county administrator. A person leaving can withdraw funds he or she paid into the fund.
The board is comprised of the three county commissioners, Frank Staudenmeier, George Halcovage, and Gary Hess, Treasurer Jacqueline McGovern and Joy.