Facing FBI Probe, PSERS Backtracks On Disclosure That Staffers Were On Both Sides Of Real Estate Dealings
Handout Under FBI investigation, Pennsylvania's $64 billion public school pension fund sought to backtrack on previous disclosures that staffers were working on both sides of real estate dealings. Amid an FBI investigation, the mammoth PSERS pension plan has disavowed as poorly worded an official disclosure form that said its top investment staff was also being paid by a firm hired to manage its real estate in Harrisburg. The fund said that in fact no one on its staff had received any “additional compensation” even though the forms said they were paid employees of both the retirement pl...