Luzerne County Employees' Retirement Plan & Trust

Luzerne County Employees' Retirement Plan & Trust

The Luzerne County Employees' Retirement Plan & Trust was established in 1942 as a contributory, defined-benefit plan for Luzerne County, Pennsylvania employees, excluding part-time workers. The Retirement Board is chaired by John Lombardo and includes County Manager Romilda Crocamo and Budget Finance Division Head Mary Roselle among its public-sector representatives, while Eugene Gurnari serves as the employee representative and Richard R. Hummer coordinates pension administration. The plan's investment strategy spans public and private markets, with confirmed allocations to buyout, distressed debt, early-stage and late-stage venture, fund-of-funds structures, and secondaries. Its only publicly identified participating employer beyond the county itself is the Wilkes-Barre/Scranton International Airport, which places airport personnel within the same retirement pool. No direct deal names or specific co-investment counterparties appear in available public documents. Altss estimates total pension trust fund assets at roughly $293 million, though the plan has not published a current audited AUM figure. The board structure reveals no dedicated CIO or internal investment staff beyond the pension coordinator role — a governance posture that materially shapes how external manager selection, fund commitments, and co-investment decisions are executed. All investment oversight flows through a five-member board composed of county officials and one employee representative. This board composition creates a distinct structural footprint: investment decisions sit with elected and appointed county officials who simultaneously manage the county's operating budget, elections, and public-safety functions. The pension fund operates without a separate investment committee or external OCIO disclosed in public records, concentrating fiduciary and administrative authority inside Luzerne County's general governance structure rather than a dedicated investment office.