Employee Retirement Fund Reports Strong Q1 Performance and Expects Gains for Q2

This article was created by AI using a video recording of the meeting. It summarizes the key points discussed, but for full details and context, please refer to the video of the full meeting. Link to Full Meeting

In a recent meeting of the York County Commissioners, held on July 16, 2025, discussions centered around the county's financial health, particularly regarding the Other Post-Employment Benefits (OPEB) and the performance of investment funds managed by Empower.

As the meeting unfolded, a representative provided an update on the OPEB, noting that the fund had grown to just over €30 million since March. This increase is attributed to a favorable equity and fixed income mix, with 80% of investments in equities. The representative expressed optimism about the upcoming second-quarter report, anticipating significant gains due to this allocation strategy.

A key point of discussion was the participation rate in the county's retirement plans, which had shown a concerning drop from 43% to 26%. However, it was later clarified that this decline was due to an error in reporting, as terminated employees had not been removed from the count. The controller's department is expected to rectify this issue, leading to a rebound in participation figures.

The meeting also highlighted the impressive performance of the county's retirement plans, with the average plan ranking in the top 10% nationally. This achievement reflects the commitment of employees to save for their futures, with a notable 26.8% of participants seeking additional financial advice from Empower. This trend suggests that younger employees are actively engaging with resources to enhance their retirement readiness.

As the meeting concluded, the commissioners expressed satisfaction with the financial updates and the overall health of the retirement plans, setting a positive tone for future discussions. The session wrapped up without any public comments, and the commissioners moved to adjourn, leaving behind a sense of progress and optimism for York County's financial future.

Converted from York County PA Commissioners Meeting 7/16/2025 meeting on July 18, 2025
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