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Featured Local Business: Clarion Federal Credit Union

  • Clarion Federal Credit Union
    144 Holiday Inn Road
    Clarion, PA 16214
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Clarion County Pension Fund ‘Past Point of No Return’

Wednesday, January 23, 2019 @ 12:01 AM

Posted by Ron Wilshire

Main Street Administration CountyCLARION, Pa. (EYT) – With a balance of $22,664,387.00, the Clarion County Pension Fund is in good shape, but Commissioner Ted Tharan pointed to one change in the status report presented at the Clarion County Retirement Board on Tuesday morning that marks the end of an era.

According to the report, total active members contributing to retirement fund were 174, and total retirees receiving the pension was 176.

“Folks, we are passed the point of no return,” said Tharan. “We now have fewer people paying into the fund than (ones who) are collecting a pension.”

The board approved the 2019 financial institution appointments, including:

Investment Manager – Cornerstone Advisors Asset Management, inc., Bethlehem, PA

Custodian – Wells Fargo investments, Clarion

.           Deposit Administrator/Custodian–Northwest Bank

.           Actuary –Boetger Retirement Plan Services

Accountant/Auditor– Clarion County auditors. (Pension funds are also reviewed in the official single audit of Clarion County.)

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