Newsmakers
Penn SERS Changes Its Travel Rules to Prevent Excessive Spending by Staff
Ambiguities in travel policies have caused issues at other Pennsylvania funds.
Tag: PSERS
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.
Asset Management Culture
PSERS Trustees Yank Their Request to Oust Executive Director, CIO
Board members at the beleaguered pension fund withdrew their call for a vote of termination at Friday’s meeting.
Asset Management Culture
Six Pennsylvania PSERS Trustees Seek Termination of Executive Director, CIO
The board members are asking that a vote of no confidence be called at Friday’s pension board meeting.
Pensions
FBI Said to Seek Evidence of Kickbacks, Bribery at Pennsylvania PSERS
State’s largest pension fund has reportedly spent over $1 million for reporting error damage control.
Asset Allocation
Leon Black: A Career-Making 1990 Call and a Career-Ending One in the 2010s
He owes Apollo’s boffo start to the killing he made on an insurer’s then-skanky high-yield bonds. Then came Epstein.
Pensions
Pennsylvania Teachers’ Pension Sheds $2 Billion in Risky Investments
Move receives praise from State Treasurer Joe Torsella.
Asset Management Culture
Pennsylvania Fund Debates How Best to Invest in Today’s Environment
Low stock valuations and bond yields leave PSERS questioning next moves.
How Pension CIOs Are Dealing With the Pandemic Storm
Handling asset rebalancing, maintaining board relations, and dealing with outside managers with big ideas are important items on plan managers’ agendas.
Asset Management Culture
Pennsylvania Inches Closer to Forming a New $83 Billion State Investment Office
State lawmakers aim to narrow a pension funding gap by merging investment activities.
Research
Pennsylvania Pensions Could Save Nearly $10 Billion over 30 Years
Report says annual fees were greater than all employee contributions.
Newsmakers
Pennsylvania Pension Panel Explores Debt-Cutting Plans
The state’s SERS and PSERS retirement organizations say they are looking for ways to cut management fees and improve transparency.
Newsmakers
Pennsylvania Pension Returns 3.7% in Q3
Board also approves $175 million in new commitments.
Pennsylvania Watchdog Slams ‘Unfair’ Pension Fees
The state’s Public School Employees’ Retirement System says the returns justify the fees.