Retirement

PENSION FUND SUMMARIES:

The Pension Fund Summary presents a summarization of the Lancaster County Employees’ Retirement System (“Fund”). The Retirement Board continually monitors the Fund to ensure it is a solid and dependable source of income for the almost 1,400 retirees of the County, and it will continue to be a reliable source of income when the nearly 1,700 active participants of the Fund decide to retire. Along with a professional group of Investment Managers, an Actuary, and a Consultant, the Retirement Board is constantly working to keep the cost of the Fund manageable for the County’s budget.  In addition, the Retirement Board, along with the Consultant, continually review the asset allocation, performance, and expenses of the investments to ensure that we have a well-diversified Fund available for the benefit of Lancaster County retirees.   As a result of the devoted work of the Retirement Board, Consultants, Investment Managers, Actuary, and Custodian, the Lancaster County Employees’ Retirement System continues to be a consistent source of income for the retirees of Lancaster County. I would like to acknowledge the dedicated efforts of my staff who process all the payments, handle your daily inquiries, and review all transactions of the Fund.   To view the annual Pension Fund Summaries, click here.

ACTUARIAL REPORTS:

The primary purpose of the Actuarial Report is to investigate and fully and fairly disclose the actuarial position of the Lancaster County Employees’ Retirement System as of January 1st of each year and to establish the proper appropriation for the current plan year, in accordance with the funding standards of Section 6 of Act 96, 1971 of the Commonwealth of Pennsylvania as amended.  This report relies on a model to determine liabilities which require forecasting into the future.  The included measurements are based on a single set of assumptions regarding the future experience of the plan’s investments and participants. Future measurements and funding needs of the plan could vary significantly based on the actual experience, including differences in investment performance, and any changes in the future expectations.  To view the annual Actuarial Reports, click here.