pensions

The wrong font, misplaced staples leads to unusual court rebuke of Pa. teachers’ pension fund

BY: - August 26, 2021

“I have never seen it before,” Duquesne University law professor, and state court watcher, Bruce Ledewitz said. “That could be because lawyers comply with the rules.”

Pa. teachers to pay more in retirement contributions as pension fund backtracks on faulty investment data

BY: - April 20, 2021

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 

BY: - March 23, 2021

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

BY: - February 3, 2021

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

BY: - December 11, 2020

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

BY: - August 19, 2020

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

BY: - August 7, 2020

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

BY: - June 11, 2020

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

BY: - May 18, 2020

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

BY: - January 16, 2020

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?

BY: - December 22, 2019

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?

BY: - December 22, 2019

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?