Pension fund shows 13.81% rate of return

MERCER, Pa. -- Mercer County's pension fund had a 13.81 percent rate of return in 2006, Mercer County Controller Thomas Amundsen reported when the County Retirement Board held its quarterly meeting Thursday.
The return rate -- the highest in three years -- was better than the 7.5 percent benchmark set by the county's actuary. This is good news for the county, which would be required to make a larger annual contribution to the fund if it had failed to achieve the benchmark.
Recent rates of return for the fund are:
8.23 percent in 2005.
10.47 percent in 2004.
22.25 percent in 2003.
10.23 percent in 2002.
minus 1.95 percent in 2001.
minus 4.69 percent in 2000.
Amundsen also reported that 1.26 million was paid out in retirement benefits in 2006 and 1.03 million paid in by employees in contributions that are calculated at 8 percent of their wage. The plan's total assets are 46.07 million.