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Bucks County retirement board accepts December report, approves leave purchase; fund market value near $997 million
Summary
At the Jan. 22, 2020 meeting the Bucks County Employees Retirement Board accepted the minutes and December secretary's report, reviewed retiree and fund performance figures totaling about $996.9 million, and approved a request by Robert J. Devlin to purchase a period of leave for $3,237.67.
The Bucks County Employees Retirement Board on Jan. 22, 2020 accepted minutes from its Dec. 18, 2024 meeting, accepted the secretary's report for December 2024, and approved a staff-requested purchase of leave for an employee, the board record shows.
Ms. Van Blunk, secretary, reported the retirement system's December transactions: member contributions received totaled $1,510,508; refunds to former members were $428,087 representing 41 former employees; and monthly pension benefits issued in December totaled $4,895,001 representing 1,968 retirees. Death-benefit payments for the month totaled $592,450 representing two deceased employees.
Van Blunk also presented the pension fund's investment reconciliation for the month ended Dec. 31, 2024, showing a total market value of $996,922,829.67, a market gain for the year of $90,585,193.32, a market loss of $23,001,073.84, and overall market performance for the year of 9.64%.
The report included a list of individuals who retired in December 2024, as recorded in the secretary's packet: R. John Gundy Jr. (fire marshal), Lyudmila Makini (nursing), Randall Miller (commissioners' office), Lisa Panzer (general services), Carolyn Perry (main courts), Kathy Riley (nursing), Eugene Setter (main jail), Janine Slobicki (Area Agency on Aging), Philip Smith (health department) and Yvette Ulysses (Neshaminy Manor).
On a motion recorded in the minutes, the board approved a request by Robert J. Devlin to purchase a leave-of-absence period from July 10, 2022, through Nov. 2, 2022, at a total cost of $3,237.67 to be paid in a lump sum if approved. The motion to approve was made by Ms. Zimbelk and seconded; the minutes record the vote as "All in favor? Aye," and the motion carried.
Votes at a glance
- Acceptance of minutes from Dec. 18, 2024: motion moved and seconded; vote "Aye" recorded; outcome: approved.
- Acceptance of the secretary's report for December 2024: motion moved and seconded; vote "Aye" recorded; outcome: approved.
- Approval of purchase of leave for Robert J. Devlin (07/10/2022'' 11/02/2022) at a total cost of $3,237.67: motion by Ms. Zimbelk; seconded; vote "Aye" recorded; outcome: approved.
The meeting concluded with a motion to adjourn that was moved, seconded and approved with an "Aye" vote. The minutes and secretary's financial figures were accepted as presented; the board gave formal approval to the leave purchase request noted above.
