County pension remains underfunded
BY STACI WILSON
Despite $2.75 million in contributions, the Susquehanna County pension fund remains underfunded by 25 percent.
But that is not necessarily bad news said John Coyne, Vice Chair of Brinker Capital who delivered the fund’s performance report. Coyne said that since the plan’s inception it had been 40 percent underfunded.
A $2.75 million contribution helped alleviate some of the liability. County Treasurer Cathy Benedict noted that the county put in an extra $1-1/2 million into the fund this year. “That helps his numbers,” she said.
In general, the market value of the fund is up 7.35 percent and total assets are at just under $16 million.
The Brinker representatives provided Retirement Board members with reports that included a market overview, as well as an account summary and specific investment information.
The County Retirement Board is comprised of the three county commissioners, the county treasurer and the chief clerk.