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Retirement board reviews fund performance, approves annuitants and alternate pays
Summary
At its Feb. 19 meeting the York County Retirement Board heard an investment update, discussed asset-allocation choices and fees, and approved additions and ratifications to the monthly annuity payment list and alternate pays.
The York County Retirement Board on Feb. 19 received a presentation on pension, OPEB and defined-contribution pools and then approved minutes and annuity-list actions.
An investment presenter identified in the transcript as Lee reported that the total pension fund ended the prior quarter at about $562,000,000 and was at roughly $580,000,000 at the time of the meeting, an increase of about $15,000,000 (about 2% so far in 2025). Lee described fourth-quarter losses concentrated in listed equities, noted improvements in real estate and infrastructure, and recommended gradually re-enabling dividend reinvestment for real-estate allocations rather than immediately returning to target weightings. Lee also said timberland holdings were being wound down and that fee negotiations reduced certain real-estate and private-credit fees (examples discussed: Clarion from 85 to 80 basis points; TA Realty to 75 basis points; private-credit effective fee reduced by roughly half due to fee treatment).
Formal board actions recorded in the meeting included approval of the Jan. 15, 2025, retirement board minutes, a motion to include named individuals on the monthly annuity payment list, and ratification of an alternate-pay entry. The motion to add annuitants listed multiple names and associated offices (for example, Rhonda M. Heilman, public defender; Tracy Jo Kelleher, prison; Heather L. Lapi, adult probation; Mark R. Levenstein, aging; Dorothy M. Osmond, CYF; Melody S. Robinson, register of wills; Joey A. Rudd, prison; Susan K. Seniff, assessment; Crystal M. Snyder, domestic relations; Robin A. Thomas, voters; Faith Euler Miles, district attorney). A subsequent motion ratified an alternate pay for Jeffrey A. Young.
Why it matters: The investment update covered near-term market drivers, portfolio-level performance and manager recommendations that could affect future allocation and reinvestment decisions. The annuity approvals alter the monthly payment list for retirees and current beneficiaries; the board recorded voice votes that carried without roll-call tallies in the transcript.
