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Federal investigation into Pa. school employees retirement fund progresses to grand jury
Updated 9:36 AM;
By Joseph N. DiStefano, The Philadelphia Inquirer (TNS)
PSERS, the pension plan for Pennsylvania schoolteachers, has confirmed that federal authorities are using a grand jury as a tool in their investigation of the $64 billion fund.
“PSERS has been served with a grand jury subpoena for documents and is cooperating fully with the request by the U.S. Attorney’s Office in the Eastern District of Pennsylvania,” PSERS said in a new statement, issued before a closed board meeting Friday that was the latest in a string of secret sessions by the fund’s board.