PSERS chairman retires, reflects on crisis-filled tenure inquirer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.com Daily Mail and Mail on Sunday newspapers.
Why this Wall Street firm walked away from a $130M Pennsylvania pension investment inquirer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.com Daily Mail and Mail on Sunday newspapers.
The school pension board has already pumped over $450 million since 1999 into a New York private equity manager, Insight Partners. But this time six trustees balked.
The governor appoints six of the 11 SERS trustees, and three of 15 on the PSERS board. The plans invest over $100 billion to pay retirees and require more than $8 billion a year in public funding.
PSERS is trying to sell a $1.4 billion portfolio of real estate that former managers purchased directly for the pension plan, instead of relying on its usual mix of Wall Street real estate investment managers.