The Butler County pension fund rose $2 million in the past three months.

The pension fund, which is mostly in the form of investments, increased from $180 million in October to $182 million as of Friday.

County Controller Ben Holland said in an interview the fund is benefiting from the stock market continuing to rise and from getting the maximum return on investments by having fewer active money managers.

“We’ve lowered the fees and that’s more money invested in the plan,” Holland said.

The county retirement board reduced the number of active managers in recent years.

The fund dropped nearly $3 million in late 2013 after numerous workers at the privatized Sunnyview Nursing and Rehabilitation Center took lump sums from their pensions.

A total of 118 county workers retired in 2014.

By the end of 2014, the county had 572 retirees or beneficiaries receiving monthly payments. The county paid an average of $747,259 each month for their pensions.

For 2013, the average total of payments was $601,753.

At the end of 2014, there were 570 members enrolled in the plan.

The retirement board, which is comprised by the county commissioners, treasurer and controller, on Tuesday decided not to grant a cost-of-living increase to retirees this year.

Board members agreed the county cannot afford to give the retirees an adjustment.

“There’s no way we can afford to do it,” said county Commissioner Bill McCarrier, retirement board chairman.

The county could pay up to $6.5 million for such an increase, which would be based on the consumer price index.