pensions | WITF

October 17, 2023 | 5:00 AM

Several Pa. pension systems kept working with financial adviser after SEC settlement

Federal officials accused a Pennsylvania adviser of causing public retirement funds to invest in a class of shares with higher fees. In the settlement, he did not admit or deny the allegations.

By Ed Mahon/Spotlight PA

July 27, 2023 | 9:32 AM

Many Pennsylvania state retirees say they can’t afford inflation on their stagnant pensions

Nearly 69,000 former public school and state workers retired before Pennsylvania boosted pension payments two decades ago. Some lawmakers now want to give them an increase.

By DaniRae Renno for Spotlight PA

March 5, 2022 | 8:33 AM

Second big Pennsylvania pension fund to divest Russia assets

The board of another big public pension system in Pennsylvania voted Friday to sell off its Russia-related investments, amid bipartisan calls from lawmakers and top state officials to respond to Russia’s attack on Ukraine.

By The Associated Press

November 10, 2021 | 4:54 AM

A massive probe of Pa.’s largest pension fund is nearly done, but taxpayers may never know the results

Some PSERS staff believe the probe’s findings could be damaging to their reputations. Their lawyers are pushing for the report to be kept private or contain rebuttals.

By Angela Couloumbis/Spotlight PA, Craig R. McCoy/The Philadelphia Inquirer and Joseph N. DiStefano/The Philadelphia Inquirer

October 22, 2021 | 5:13 AM

Here’s how Pa.’s school pension fund keeps its communications secret from the public

The $73 billion PSERS fund won a ruling keeping secret much of its dealings with three consultants who were brought in to probe a key figure for investment profits.

By Craig R. McCoy/The Philadelphia Inquirer, Joseph N. DiStefano/The Philadelphia Inquirer and Angela Couloumbis/Spotlight PA

October 4, 2021 | 11:47 AM

Pa. school pension fund leaders seek to gag board members over leaks to media

Upset at leaks, leaders of the 15-member PSERS pension fund board have shut off legal briefings for the panel and are considering demanding they sign nondisclosure agreements.

By Angela Couloumbis/Spotlight PA, Joseph N. DiStefano/The Philadelphia Inquirer and Craig R. McCoy/The Philadelphia Inquirer

September 27, 2021 | 5:14 AM

Embattled Pa. teacher pension fund subpoenaed by SEC over ‘compensation and gifts’ to staff

The U.S. Securities and Exchange Commission has joined the FBI in the investigation of Pennsylvania’s biggest pension fund.

By Angela Couloumbis/Spotlight PA, Craig R. McCoy/The Philadelphia Inquirer and Joseph N. DiStefano/The Philadelphia Inquirer

June 18, 2021 | 8:05 AM

Money, power, scandal: The PSERS saga, explained

The Public School Employees’ Retirement System, or PSERS, saga is sprawling and complicated. Here’s a quick rundown of what you need to know — and why you should care.

By Colin Deppen/Spotlight PA

June 9, 2021 | 5:35 AM

Facing FBI probe, PSERS backtracks on disclosure that staffers were on both sides of real estate dealings

The $64 billion pension fund claimed in a new IRS filing that its previous disclosures were poorly worded and filed in “error.”

By Angela Couloumbis/Spotlight PA, Craig R. McCoy/The Philadelphia Inquirer, amd Joseph N. DiStefano/The Philadelphia Inquirer

April 20, 2021 | 5:09 AM

Pensions board in Pennsylvania votes to raise rates for 94K school employees

If the increases take effect, contribution rates would rise starting next July 1 for about 94,000 public school employees, all hired in 2011 or after.

By Marc Levy/The Associated Press

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