Pensions
PSERS, Aon Settle Lawsuit for $7M
The accounting firm admitted to errors in a 2020 risk analysis, significantly disrupting the Pennsylvania education workers’ plan.
Tag: Pennsylvania Public School Employees Retirement System (PSERS)
Pensions
Pennsylvania PSERS Returns 8.62% in 2023
The fund also made over $760 million in commitments to managers.
Regulation
Aon Agrees to $1.5M Settlement With SEC Over Pennsylvania Pension Data
The penalty is related to misleading statements the adviser made to the Pennsylvania Public School Employees’ Retirement System.
Pensions
Pennsylvania PSERS Drops Aon as Consultant
Aon admitted fault for the 2020 mistakes that led to the resignations of pension fund leaders, and the fund has moved on to a new consultant, Verus Investments.
Asset Allocation
Pennsylvania PSERS Reports Preliminary 3.54% Return for 2023
The $72.8 billion pension fund also launched a new strategic plan and hired an external derivatives manager.
Pensions
Pennsylvania SERS Will Join Pilot Project to Combat Securities Fraud
NCPERS Securities Fraud Recovery Services aims to help members recover damages from securities fraud.
Asset Allocation
‘Ongoing Market Changes’ Lead to Penn PSERS Allocation Adjustments
The $72 billion pension fund aims to reduce risk by cutting back its allocations to private markets and absolute return.
Pensions
Pennsylvania PSERS Sues Aon Over Accounting Error
The pension fund accuses Aon of breach of contract, breach of fiduciary duty and negligence.
Manager Selection
Pennsylvania PSERS Names New CIO, Tapping UAW Investment Official
Benjamin Cotton fills the position has been vacant for a year amid probes and controversies.
Manager Selection
PSERS Posts Ad for New CIO
The $75 billion pension fund is looking for its first permanent CIO since Jim Grossman resigned last year.
Pensions
Justice Department Ends Investigation of Pennsylvania PSERS
A 2020 accounting error had prompted the investigation that lasted for more than a year.
Newsmakers
PSERS Internal Investigation Into Miscalculated Returns Released
Critical pieces of information still remain missing.
Newsmakers
This Local Pennsylvania Police Pension Fund Is About to Run Out of Benefits. How Did That Happen?
The pension board is accused of opening the doors for pension spiking.
Manager Selection
CIO, Executive Director Resign From Embattled Pennsylvania PSERS
Jim Grossman will stay on until May, while Glen Grell will leave at the end of February.
Regulation
SEC Reportedly Subpoenas PSERS Over Alleged Compensation, Gifts
The regulator is also seeking information on a financial misstatement from 2020 that triggered a contribution increase.