Retirement board takes cautious outlook

BY STACI WILSON

The Susquehanna County Retirement Board opted to make a few minor changes to the county’s pension account, Wednesday, Aug. 24, continuing its approach to err on the side of caution with investments.

Changes were made to the county pension based on recommendations from the Seneca Group of Morgan, Stanley, Smith and Barney.

The board continued on its course set in May to lower equity exposure of the county plan. The changes made to the plan in May helped to limit losses during the recent upheaval of the market.

The pension board moves to increase the weighting of investments by one percent in three areas that will help diversify the county’s fixed income exposure.

The Retirement Board is comprised of the three county commissioners, county treasurer and chief clerk.

The board heard the quarterly update, reviewing the pension plan holdings and investment strategy, from the Seneca Group immediately following the county commissioners meeting.

The commissioners handled a sparse agenda Wednesday, approving routine Children and Youth service agreements which pass through the state to the county.

The commissioners also accepted, with regret, the resignation of Jim Bralla from the County Economic Development Board, effective Dec. 31.