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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 .
What you need to knowThe $64 billion Public School Employees’ Retirement System (PSERS), one of the nation’s largest pension funds, is embroiled in scandal and has become the target of an FBI investigation.On Thursday, a dissident group of board members called for the firing of the fund’s chief executive and top investment officer, but didn’t yet have enough votes.Amid the rebellion, PSERS .
What you need to knowThe $64 billion Public School Employees’ Retirement System (PSERS), one of the nation’s largest pension funds, is embroiled in scandal and has become the target of an FBI investigation.On Thursday, a dissident group of board members called for the firing of the fund’s chief executive and top investment officer, but didn’t yet have enough votes.Amid the rebellion, PSERS .