Pensions
Penn SERS Earns 5.2% During 1st Half of 2024, 1.3% in Q2
The retirement system also hired RVK as the general investment consultant for its pension plans.
Tag: Pennsylvania State Employees Retirement System
Pensions
Pennsylvania SERS Retains Empower, Aims to Save $1.4M per Year Under New Contract
According to the pension fund, changes under the new contract mean the financial services firm will have ‘some skin in the game.’
Pensions
Penn SERS Adjusts Asset Allocation Targets, Makes New Commitments
The fund will decrease its emerging equities exposure target for US equities as it reports a 3.81% return in the first quarter.
Pensions
Penn SERS Returns 12.2% in 2023
Pension returns were boosted by equities, while real estate lagged.
Pensions
Pennsylvania SERS Commits $220M to Private Equity, Real Estate
Along with new commitments to alternatives, the pension fund is also boosting pay for staffers.
Asset Allocation
Penn SERS Earmarks $100 Million for 2 Private Equity Funds
The pension fund also rehired NEPC as its real estate investment consultant.
Asset Allocation
Penn SERS Loses More Than 12% in 2022
No rise in member contribution rates expected for fiscal year that starts July 1.
Asset Allocation
PennSERS Investments Lose More Than 16% During First Three Quarters
The pension fund’s market value has fallen by more than $7.4 billion as of Sept. 30, despite outperforming its benchmark.
Asset Allocation
Penn SERS Returns 17.2% in 2021, Led by Private Equity Investments
Pension fund reports third straight year of double-digit investment gains, but falls short of benchmark.
Newsmakers
Breaking News: Penn SERS Names Joseph Torta Executive Director
The top two positions at the $39 billion pension fund have turned over in less than half a year.
Penn SERS Returns 11.1% in 2020
Investment performance for the $35 billion pension fund fell short of its benchmark and a sample 60/40 fund.
Corporate Moves
Penn SERS CIO Seth Kelly Resigns
He leaves the pension fund after less than a year on the job; Deputy CIO James Nolan will take over as acting CIO.
Asset Allocation
Special Report: Why Pennsylvania SERS is Moving Toward a Liability-Driven Benchmark
New CIO Seth Kelly is hiking the fund's asset allocation to fixed income.
Asset Allocation
Penn SERS Redefines Fixed-Income Allocations in Liability-Driven Push
Board also approves $125 million in new private equity, real estate investments.
Pensions
Pennsylvania SERS Loses 4.6% in First Half of 2020
Stress test finds capital preservation plan effective at providing security during market downturn.