Log In


Reset Password
LEHIGH VALLEY WEATHER

Borough pension plan doing well

The Borough of Northampton's pension fund has rebounded, borough council learned at the Feb. 6 meeting.

"We [pension committee] reviewed both the non-uniformed and police pension plans," borough Manager Gene Zarayko said. "The non-uniformed plan was up 14.51 percent for 2013 and the police pension plan was up 13.17 percent. Both plans are doing well. However, some of the extra cash money was used to purchase additional stock."

The findings were disclosed when the pension committee met Jan.13 with Mike Wolfer of Morgan Stanley. Committee members are LeRoy Brobst, assistant to the manager; Glenn Deist, borough police detective; John Yurish, council president, Ronald Spengler, resident and former councilman and Zarayko.

In a related pension matter, Zarayko said the state auditor general's office completed an audit of both the borough's pension plans.

"There were no findings," Zarayko said.

Council members expressed pleasure with the recent positive results of the pension plans. However, council noted the stock market is presently in a slight decline.

The Atlas Cement Memorial Museum continues to receive donations from the five operating cement plants in the region. Ed Pany, cement museum curator, recently received a $250 check from Keystone Cement Company, East Allen Township.

Borough residents shortly will receive a free borough map. Councilman Robert Coleman said the 4,000 borough residents will be mailed the map. Richard Kalady, sales representative of the borough's map company, is presently soliciting advertisements to produce a new and updated map.

Jason Kremus, borough recreation center director, is seeking volunteers to chaperone the youth dances held at the Lerchenmiller Drive center. There was a dance on Saturday for fourth through six grade girls and boys with a deejay providing the music 6:30 to 9 p.m. There will be an upcoming dance for seventh and eighth graders.