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Pa.'s $64 billion educator pension fund under investigation over land purchases, financial results


Pa.’s $64 billion educator pension fund under investigation over land purchases, financial results
Updated Apr 30, 2021;
Posted Apr 30, 2021
Public School Employees Retirement System executive director Glen Grell sits alone in the board room at the system s Harrisburg headquarters for a virtual meeting.
(Screenshot from Microsoft Teams call)
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By Joseph N. DiStefano, The Philadelphia Inquirer (TNS)
The federal investigation of Pennsylvania’s $64 billion pension fund for teachers has come into sharper focus with reports that officials are examining both the plan’s inflated estimates of its returns and its spending spree on Harrisburg real estate.
The probe by federal prosecutors and the FBI is exploring how top executives of the fund, known as PSERS, responded when word spread internally that its financial performance might fall short of its official goal, The Inquirer has learned. ....

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