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: PSERS
Pensions
Pennsylvania PSERS Reports 2.95% Return in Q1
The $74.6 billion Pennsylvania pension saw strong returns from U.S. equities.
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 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
‘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
PSERS Posts Ad for New CIO
The $75 billion pension fund is looking for its first permanent CIO since Jim Grossman resigned last year.
Newsmakers
PSERS Exploring Legal Action Stemming from Reporting Error
The 2020 fund reporting error’s revision triggered the state’s shared-risk provision, which required school districts, as plan providers, and plan participants to pay more into the system.
Newsmakers
PSERS Considers Suing Aon for Miscalculating Returns
The pension fund has hired law firm Blank Rome to look into potential litigation.
Manager Selection
CIO of New Jersey Police and Fire Pension Resigns
The resignation follows an ethics probe into his behavior at a previous pension fund.
Risk
New York Common, NYCERS, and Penn SERS to Divest Russian Investments
The public pension funds join a growing number of institutional investors pulling their money out of Russia.
Newsmakers
PSERS Internal Investigation Into Miscalculated Returns Released
Critical pieces of information still remain missing.
Newsmakers
PSERS Delays Turning Over Investigation Results
Board members were warned that the results of the report could be damaging to their reputations, according to the Philadelphia Inquirer.
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.