HARRISBURG With a demand that PSERS top executives be fired hanging in the air, those beleaguered leaders on Thursday continued to urge Pennsylvania’s largest pension fund to double down on their controversial investment strategy by pouring $1.2 billion more into “alternative” investments promoted by high-fee Wall Street advisers.Six board dissidents, upset at the plan’s lackluster .
Pleasant Valley board reverses course on furloughs – Times News Online tnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tnonline.com Daily Mail and Mail on Sunday newspapers.
By MARC LEVY
Associated Press
HARRISBURG, Pa. (AP) â A Pennsylvania state senator is suing Pennsylvaniaâs largest public pension system amid a federal investigation into aspects of the agency s undertakings, saying agency officials have refused to share documents with her, even though she is a board member.
The effort by state Sen. Katie Muth, D-Montgomery, is being opposed by executives at the $64 billion Public School Employeesâ Retirement System, but found support from state Treasurer Stacy Garrity and former Treasurer Joe Torsella, both fellow board members.
âWithholding important documents from a trustee is outrageous,â Garrity said in a statement Wednesday.
Much of what Muth has requested are either documents previously provided to board members or documents that are public records, Garrity said.
A dissident group of trustees for Pennsylvania’s largest pension fund on Wednesday was seeking to gain majority support to fire the retirement plan’s chief executive and top investment officer, as the fund grapples with an FBI investigation and management mistakes.The dissidents have drafted and are circulating a detailed seven-page letter castigating the investment strategy and governance of .
Pension system sued over access to documents amid probe – Times News Online tnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tnonline.com Daily Mail and Mail on Sunday newspapers.