Carbon retirement fund sees growth

Carbon County’s retirement fund is seeing healthy growth this year, but officials are cautiously optimistic since stock markets can change quickly.

On Thursday, Robert Crampsie, county controller and secretary to the retirement board, gave a six-month cash flow performance report for the first half of 2019.

When 2019 began, the starting balance was $72,068,396 with an adjusted beginning balance of $70,121,398 after disbursements of $2,844,482 from payments out of the fund and $897,484 in contributions.

Crampsie said that with portfolio value as of June 30 standing at $79,022,919, the rate of return for the first half of 2019 is $8,901,521 or 12.7 percent.

“It hasn’t been a smooth ride but we are definitely over what we anticipated,” Crampsie said. “We are doing very well, but I caution because last year at this time we were doing well, but December we gave just about everything back.

“We’re on the roller coaster yet and hopefully will continue through end of the year.”