PSERS

COMMENTARY

Pa. teacher pension money ended up in Iraq? Here’s how that happened | Mike Connolly

BY: - February 28, 2021

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

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.

A look at the 2020-2021 stopgap budget: How Pa. is paying for k-12 schools and higher ed. | The Numbers Racket

BY: - July 6, 2020

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

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.

Pensions position, lawmakers prepare as coronavirus economic impact trickles into Pa.

BY: - March 10, 2020

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.

Capital-Star’s reporting prompts Pa.’s teacher pension fund to audit travel expenses to L.A.

BY: - March 6, 2020

Pennsylvania’s largest pension fund is auditing its travel expenses after reporting by the Capital-Star revealed opaque expense records for cross-country travel.

Why Pa.’s public pension funds have millions of dollars of your money tied up in the natural gas industry

BY: - February 7, 2020

According to an annual report released last November by the Pennsylvania School Employees Retirement System, the teachers’ pension fund has $336 million dollars worth of stock invested in the controversial pipeline company. That’s the pensions’ third biggest holding of a single U.S.-based publicly traded asset.

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?