Pa. teachers to pay more in retirement contributions as pension fund backtracks on faulty investment data
That would average out to $180 extra dollars out of each teacher's paycheck, but the exact amount will depend on each teacher’s salary, which can vary widely between school districts.
Garrity backs Torsella to boost oversight on teachers’ pension fund amid internal investigation
Gov. Tom Wolf nominated Torsella for the role in February. His return would bring back a once lone contrarian voice to a board with a growing anti-establishment faction.
Still primed for public life, ex-Pa. Treasurer Torsella reflects on pensions and bipartisanship
Though he may be out of office, former Pennsylvania state Treasurer Joe Torsella still thinks he has much to offer the state of Pennsylvania.
Pa. Treasury Twitter account to shut down, leaving legacy of snarky, relatable PR
In a farewell message, the account, run by previously unnamed Treasury employees, announced it was shutting down.
‘We got as wet as everyone else’: Pa. teachers’ pension fund to dump billions in underperforming Wall Street investments
Oversight and management of the $4 billion investment was split roughly evenly between PSERS and private firms, including Wall Street giants Bridgewater and BlackRock.
Teachers’ pension fund adopts new, more transparent travel policy after revelations of hidden L.A. trip costs
The policy was introduced and adopted in response to the Capital-Star’s reporting on unaccounted for travel expenses by pension fund employees.
Pension travel policy reforms meet pushback from teachers
Teachers sitting on the Pennsylvania’s educator pension board voiced their concerns Thursday with a reform proposed by the state’s Democratic treasurer and a Republican lawmaker. The brief, polite disagreement over how to reform the transparency and approval travel costs at the Public School Employees Retirement System comes in response to undisclosed trip expenses at the […]
Incomplete review by Pa. teachers’ pension fund finds $160k in travel spending
The review was initiated by Pennsylvania Public School Employees Retirement System’s board last March following the Capital-Star’s reporting.
At Harrisburg pensions panel, private equity firms pitch their soundness as investments
Thursday’s panel featured four private equity executives from firms that PSERS is currently invested in, including two firms based in Pennsylvania. The panelists explained the industry, answered audience questions, and addressed criticism that the industry is too opaque or that its profits come at the expense of workers.
Pa. pension employees are taking pricey trips to Beverly Hills. But the costs are hidden. Why?
Pennsylvania pension fund employees annually fly to California to check on investments. But the full cost of those trips are shielded from public view. Why?
What is private equity and why are Pa. lawmakers concerned about the tens of millions of dollars of your money tied up in it?
What does a private equity firm do? And why has its work, which attracts rich individuals and well-endowed institutions, become a source of controversy?
Pension board OKs $300 million investment in private equity firm connected to prisons, student debt
Despite activist prodding, Pennsylvania’s Public School Employees’ Retirement System board voted Friday to approve a $300 million investment in a private equity fund that’s connected to prisons and student debt collection. PSERS currently manages more than $50 billion to provide benefits to 200,000 retired school employees. Decisions on investments are made by a 15-member board […]