The school pension board has already pumped over $450 million since 1999 into a New York private equity manager, Insight Partners. But this time six trustees balked.
COLA boosts to pension distributions have been proposed in Pennsylvania and Texas, while they have already been announced in Maryland and Rhode Island.
PSERS is trying to sell a $1.4 billion portfolio of real estate that former managers purchased directly for the pension plan, instead of relying on its usual mix of Wall Street real estate investment managers.