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Elk County retirement board says pension fund is healthy; approves 2025 contribution estimate and administrative fees
Summary
At its Jan. 2 meeting the Elk County Retirement Board reviewed plan performance, reported a funded ratio of 91.3%, and unanimously approved a set of routine administrative items including a $600,000 estimated actuarially determined contribution for 2025 and vendor fee adjustments.
The Elk County Retirement Board on Jan. 2 reviewed the county pension plan's recent performance and approved a package of routine administrative measures for 2025, including an estimated $600,000 actuarially determined contribution and several vendor fee items.
Pat Straub, county chief clerk and board secretary, opened the board's presentation with a performance overview, saying the plan's portfolio stood at $30,825,851 as of September and produced a weighted average return of 13.53% against a benchmark of 12.69%. "Our funded ratio is 91.3," Straub told the board. "I can also give this to the press because I think it's probably of interest for our retirees or soon to be retirees that the plan is in very good shape." The board heard that the investment adviser CS McKee outperformed the benchmark by about 84 basis points.
The nut of the discussion was whether to continue…
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