Pension fund rises by $50M-The Luzerne County pension fund is worth $192.8 million – a more than $50 million increase since it was overhauled and put under the management of Merrill Lynch in October 2002, the county Retirement Board learned Tuesday.
WILKES-BARRE — Luzerne County retirees’ pension checks could soon increase
If the pension fund can afford the increase, the adjustment will be either 85 percent or 100 percent of the federal government’s 4.1 increase for 2006. County retirees’ pension checks will increase 3.2 percent or 4.1 percent as a result.
An increase of $50 million in less than 6 years or to put it another way a 35% boost. The pension fund is doing better than my investments. Pensions are a big issue right now as many large companies are trying (getting) out of their pension obligations.
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