Carbon County’s retirement fund lost nearly $3 million over the year as a result of a volatile stock market, but overall, it is still performing well, officials said.

On Thursday, Robert Crampsie, county controller and secretary to the retirement board, outlined the preliminary 2018 performance report.

In 2018, the fund’s adjusted beginning balance, which is based off benefits and refunds paid out, as well as employer and employee contributions, totaled $75,000,663.

The ending fund balance as of Dec. 31 stood at $72,068,396, a $2,932,267 decrease.

“That represents a 3.91 percent decrease,” Crampsie said. “It’s not good news, but however I did the average over the last 10 years and we are still at a 9.99 percent (fund balance increase) over the last 10 years.

He said that the final figures will be presented next month during the retirement board’s meeting.