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School employees, Pa. officials question state’s largest pension fund over charges, investments Updated 10:42 AM; Facebook Share By Joseph N. DiStefano, The Philadelphia Inquirer (TNS) On Monday, when the state’s largest pension fund voted to charge school employees more for their retirements, the fund was compelled to do so because it had missed its 10-year investment goal by the narrowest of margins: 2/100ths of a point. Had the fund invested more in stocks as it used to, it would have made up its shortfall and prevented the extra charges, records show. Instead, the $64 billion fund invested in high-cost private equity and alternative investments that drove down PSERS’s performance numbers, triggering a need to require more contributions from recently hired school employees.

United statesPaul haleTom wolfChris santa mariaStacy garrityJames grossmanNoe ortegaJoe torsellaMike tobashFrank ryanKatie muthJosephn distefanoSenate onLower merion harriton high schoolPennsylvania state education associationPennsylvania school employee retirement system