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Carbon County retirement fund hits all-time high $81M

Carbon County’s retirement fund hit an all-time high going into the final month of 2019.

On Thursday, Robert Crampsie, county controller and secretary to the retirement board, in his final meeting as controller, reported that as of Nov. 30, the retirement fund stood at $81,615,543.

“It’s pretty nice that at my last meeting, I can report that we’re hitting an all-time high,” he said.

Crampsie is retiring after serving as Carbon County’s controller for the last 28 years. Controller-elect Mark Sverchek will take over the office next year.

He noted that for the year, the fund has grown $12.6 million; but he also cautioned that going into December 2018, the fund was performing well before taking a nose-dive.

“I hope where we sit today, we end up on a very high note,” Crampsie said. “It is important coming off a negative year last year.”

He thanked the current board, as well as previous boards, for all of their hard work to serve the retirees and taxpayers of the county and provided a few words of wisdom to the new board being sworn in Jan. 6.

“Always look out for the best interest of the retirement fund, retirees and the taxpayers of Carbon County because some of the decisions we make here will affect them,” he said.

In other matters, the retirement board set the interest rate on members’ accounts for 2020 at 5.5%.