State teachers union calls for Pa. pension board to resign in face of investigations
The union representing 36,000 Pennsylvania educators has called for the resignation of most of the trustees of the state teacher’s pension fund.
Torsella back on PSERS board amid internal and external investigations
In a unanimous vote, the Pennsylvania state Senate voted to send former state Treasurer Joe Torsella back to the state’s teachers pension board. He’ll now rejoin the 15-member board that oversees Pennsylvania’s Public School Employees Retirement System, which manages $64 billion in investments to make current and future retirement payments to more than 600,000 teachers, janitors, […]
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.
Pa. teacher pension money ended up in Iraq? Here’s how that happened | Mike Connolly
The investing world isn’t just where rich guys go to get richer. It’s also where we see our public investments grow or be squandered.
‘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.
A look at the 2020-2021 stopgap budget: How Pa. is paying for k-12 schools and higher ed. | The Numbers Racket
This week, in part two of our look at the five-month budget plan, we’ll go deep on the changes being made to funding for K-12 schools, higher education and pension funds, according to an analysis by Democratic staff on the House Appropriations Committee.
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.
Pensions position, lawmakers prepare as coronavirus economic impact trickles into Pa.
Pennsylvania’s school teacher pension fund made $1 billion off of the coronavirus-induced market shifts last week, as the state’s fiscal watchdog stressed budgetary uncertainty as the virus spreads.