How Pa. teachers’ pensions fit into the feud between Oz, McCormick

BY: - March 24, 2022

The argument goes something like this: Starting in 2012, PSERS, which pays for 500,000 former teachers, principals, and other school employees retirements, decided to make a new investment in Bridgewater Associates, a Connecticut-based financial services firm that McCormick worked at from 2009 until 2022 — first as president, then as CEO.

With Wolf’s encouragement, Pa.’s teachers’ pension fund dumps Russian investments

BY: - March 3, 2022

'We must do what is within our power to bring an end to the suffering of the people of Ukraine,' Gov. Tom Wolf said.

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.