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Bucks County’s retirement fund breaches the $1 billion mark | Southeastern Pennsylvania

Share this…FacebookPinterestTwitterLinkedin Bucks County’s retirement fund has reached into 10 digits.   As of Might 31, the fund for county-government…

By Staff , in Investments , at June 16, 2021



Bucks County’s retirement fund has reached into 10 digits.

 

As of Might 31, the fund for county-government retirees slipped over the $1 billion mark, at $1,000,136,000, Controller Neale Dougherty stated Wednesday on the Bucks retirement board assembly.

 

The county has held onto the positive factors, because the fund has moved up with the monetary markets. The Dow Jones Industrial Common is up about 12% year-to-date as inventory investments gained with the easing of the Covid-19 pandemic. Pension funds sometimes unfold investments throughout a number of asset courses and in addition should maintain money to make month-to-month funds to retirees.

 

“The market worth of the fund at the beginning of the yr was $931,216,331,” Dougherty stated. “The market worth as of Might 31, 2021, was $1,000,136,571.45.”

 

As of the shut of buying and selling Tuesday, the pension fund remained over $1 billion, at $1,003,894,637.03.

 

“The acquire for the yr has been 8.3%,” Dougherty stated. “It has been an exceptionally sturdy yr.”

 

Different county funds have additionally completed properly. Northampton County, which is about half the scale of Bucks, has seen its pension fund develop to a few half-billion {dollars} this yr.

 

The fund paid $3.85 million in advantages in Might to 1,690 retirees, Dougherty stated. That’s about $2,278 per retiree.

 

 





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