The Elk County Retirement Board meeting on January 2, 2025, focused on the county's pension fund performance and interest credit rates. A key discussion point was the current interest credit rate, which has remained steady at 5.5% for an extended period.

Board members noted that maintaining this rate has allowed the county to perform better than the market in recent years. This has resulted in a favorable situation where the county is paying out less in interest than it is earning from market investments. The board acknowledged that while market fluctuations can impact earnings, the historical performance has been stable.

The discussion highlighted the importance of the interest credit rate as a tool for managing the pension fund's financial health. Adjustments to this rate could be considered in the future, but for now, the board is satisfied with the current rate and its implications for the county's pension obligations.

Overall, the meeting underscored the board's commitment to ensuring the sustainability of the retirement fund while navigating the complexities of market performance. Further evaluations may be necessary as market conditions evolve.