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Pension fund investigation is troubling | News, Sports, Jobs

Apr 17, 2021 For many people, on the coattails of hearing good news comes their pessimism-rooted instinct to question what bad news might be lurking in the proverbial shadows. This month, on the state front, Pennsylvania residents received bad news first, followed a day later by welcome news that a tremendous “headache” apparently is about to get the right “pain medication.” The bad news: As an Associated Press article in the April 8 Mirror reported, the Keystone State’s largest public pension system is the focus of a federal investigation. Officials of the $64 billion Public School Employees’ Retirement System already have received subpoenas and presumably are busy assembling responses to the information that the feds are seeking.

Investigation into pension system is cause for concern | News, Sports, Jobs

Apr 17, 2021 For many people, on the coattails of hearing good news comes their pessimism-rooted instinct to question what bad news might be lurking in the proverbial shadows. This month, on the state front, Pennsylvania residents received bad news first, followed a day later by welcome news that a tremendous “headache” apparently is about to get the right “pain medication.” The bad news: As an Associated Press article reported, the Keystone State’s largest public pension system is the focus of a federal investigation. Officials of the $64 billion Public School Employees’ Retirement System already have received subpoenas and presumably are busy assembling responses to the information that the feds are seeking.

Federal investigation into Pa school employees retirement fund progresses to grand jury

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.

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