County Employee Retirement Fund Rallies In July

From Potter County Today

“Volatility” was the word of the day as an investment manager met with the Potter County Retirement Board Thursday to discuss the status of the county employees’ retirement fund. Jeff Davidek from the firm C. S. McKee explained that the fund lost about $700,000 in value between April 1 and June 30. However, a rally in July erased most of that loss.

As of Thursday, the fund had a value of $9.3 million. It’s up by 11 percent since July 2009. Despite the roller-coaster market of the past several years, the fund shows appreciation of 2.5 percent since 2005.

Davidek said C. S. McKee continues to invest heavily in the energy and health care sectors. He is cautiously optimistic that the second half of 2010 will see a rebound.  Members of the Retirement Board include Commissioners Doug Morley, Susan Kefover and Paul Heimel, County Treasurer Krista Miller and Chief Commissioners Clerk Todd Brown.

Article courtesy of the Potter County Commissioners.