# Lycoming County Employees' Retirement System Lycoming County Employees' Retirement System is a Pension Fund based in Williamsport, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Williamsport, United States - **Region:** North America - **Address:** Williamsport, PA, United States - **Founded:** 1971 - **Assets under management:** $100M - $250M (Altss estimate) - **Website:** www.lyco.org ## Regulatory record - **Reports private funds:** No ## About Lycoming County established its Employees' Retirement System in 1971 as a defined benefit plan for county workers. The plan is administered by a statutorily created Retirement Board whose membership consists entirely of county officials — the three sitting commissioners, the county controller, and the county treasurer. This governance model, common among Pennsylvania's 67 counties, means investment oversight rests with elected or appointed generalists rather than a dedicated chief investment officer. The board convenes monthly and contracts with an external investment consultant to guide asset allocation and manager selection. The system's investment strategy is built for a small plan that cannot staff an internal alternatives team. It accesses private markets primarily through fund-of-funds structures and secondary purchases, a path that layers an extra set of fees but provides diversification across dozens of underlying managers a $149 million pool could not assemble directly. On the real estate side, it holds positions in core open-end commingled funds — ASB Real Estate Investments Core Fund and Heitman America Real Estate Trust — both institutional vehicles that pool capital from multiple small-to-mid-sized public plans seeking stabilized, income-oriented property exposure. The plan's public filings indicate a total portfolio allocation that includes domestic and international equities, fixed income, and these alternatives sleeves, though exact percentages are updated only periodically through actuarial valuation reports. The Retirement Board meets publicly and its membership shifts with county elections. As of the most recent cycle, commissioners Scott Metzger, Mark Sortman, and Mark Mussina hold the three board seats allocated to the Board of Commissioners, while Controller Nicki Gottschall — who succeeded former Deputy Controller Krista Rogers in 2025 — serves as board secretary. Treasurer Cindy Newcomer rounds out the five-member board. The system does not maintain a separate investment office or publish a dedicated quarterly performance report; its activities surface through county budget documents, actuarial valuations filed with the Pennsylvania Public Employee Retirement Commission, and meeting minutes posted to the Lycoming County website. What distinguishes this plan structurally is its statutory entanglement with county government. There is no independent fiduciary board, no external investment committee with private-sector representatives, and no investment staff. Every allocation decision — from rebalancing triggers to committing to a new fund-of-funds — flows through elected officials whose primary duties are roads, courts, and social services. For a GP prospecting among Pennsylvania county plans, that means the sales cycle runs through the consultant and must survive a public meeting where pension math competes for attention with zoning appeals and bridge repairs. ## Sectors - Real Estate - Secondaries & Special Situations - Fund of Funds ## People - Scott Metzger — Lycoming County Commissioner and Retirement Board Member - Mark Sortman — Lycoming County Commissioner and Retirement Board Member - Mark Mussina — Lycoming County Commissioner and Retirement Board Member - Krista Rogers — Lycoming County Controller and Retirement Board Secretary - Cindy Newcomer — Lycoming County Treasurer and Retirement Board Member - Nicki Gottschall — Lycoming County Controller ## Questions ### Who actually makes investment decisions for the Lycoming County pension plan? A statutorily created Retirement Board consisting of the three county commissioners, the county controller, and the county treasurer. There is no chief investment officer and no external investment committee with private-sector members. The board contracts with an investment consultant who recommends asset allocation changes and manager hires, which are then voted on in public meetings. ### How does a plan this small access private equity and real estate? Primarily through fund-of-funds and secondary purchases, which package exposure to dozens of underlying managers in a single commitment. On the real estate side, the plan invests directly in core open-end commingled funds — vehicles like ASB Real Estate Investments Core Fund and Heitman America Real Estate Trust that pool capital from multiple small institutional investors to acquire stabilized, income-producing properties. ### Does Lycoming County's pension plan publish quarterly performance reports? No. The plan's investment activity surfaces through county budget documents, actuarial valuation reports filed with the Pennsylvania Public Employee Retirement Commission, and Retirement Board meeting minutes. These are public records but are not packaged into a dedicated investor-relations website. ### What is the sales cycle for a GP trying to present to this board? The consultant is the gatekeeper. The board does not employ investment staff, so cold outreach to commissioners is unlikely to advance a conversation. The consultant screens managers against the plan's asset allocation targets and introduces candidates during a scheduled public meeting. Any commitment must be voted on in that public forum, alongside other county business. ### How does the board change when county elections shift? Since the board's membership is defined by office held, not by appointment, it changes whenever a new commissioner, controller, or treasurer takes office. In 2025, Nicki Gottschall replaced Krista Rogers as controller and therefore as board secretary. This creates periodic turnover in the people hearing manager pitches, even if the underlying consultant relationship remains stable. ## Related profiles - [Loyola University Employees' Retirement Plan](https://altss.com/profile/loyola-university-employees-retirement-plan) - [Community Foundation of Lorain County](https://altss.com/profile/the-community-foundation-of-lorain-county-cflc) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/lycoming-county Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology