Morgantown Council 9/20

Morgantown Finance Director Kevin Tennant briefs City Council members about the losses suffered by the police and fire pension funds in the last fiscal year, which ended June 30.

MORGANTOWN, W.Va. (WV News) — The pension funds for Morgantown’s police officers and firefighters each suffered major losses last year because of poor stock market performance, Finance Director Kevin Tennant told City Council during a regular meeting Tuesday night.

Each year, an actuary hired by the Municipal Pension Oversight Board reviews the funds and writes a report on their performance, City Attorney Ryan Simonton explained.

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