DePaquale discusses audit of State Employees' Retirement System

DePaquale discusses audit of State Employees' Retirement System

Auditor General Eugene DePasquale held a press conference Thursday morning where he discussed his audit of State Employees' Retirement System and what his findings were.
Thursday, August 10, 2017/Author: Kara Barmoy
Categories: Video
Senate Bill 1 begins advance through House

Senate Bill 1 begins advance through House

Senate Bill 1—the major pension reform bill making its way through the General Assembly—easily cleared the Senate by a vote of 40-9 Monday afternoon. Within only a few short hours, the legislation was quickly taken up by the House State Government Committee where it advanced to full House along bipartisan lines.

Monday, June 5, 2017/Author: Jason Gottesman
Categories: News and Views
VIDEO: Pension reform effort to heat up in coming weeks

VIDEO: Pension reform effort to heat up in coming weeks

With the June 30th budget deadline inching closer, pension reform is one of the most talked about issues some are hoping to work on along with the spending plan. Find out where pension reform stands, how lawmakers feel, and what might happen to fix the issue. 

Tuesday, May 30, 2017/Author: Kara Barmoy
Categories: Video
Gov. Wolf, Torsella repeat call for state pension boards to reduce fees, move to more passive investment strategy

Gov. Wolf, Torsella repeat call for state pension boards to reduce fees, move to more passive investment strategy

Gov. Tom Wolf and Treasurer Joe Torsella Monday doubled-down on their call for the State Employees’ Retirement System and the Public School Employees’ Retirement System to reduce their management fees, move to a more passive investment model, and increase savings opportunities.

 

The call comes on the heels of the Wolf administration combining three funds into one Treasury-managed fund and the Treasury putting all public equity investments into a passive investment model and an April 13 letter to the systems encouraging to adopt similar reforms.

Monday, April 24, 2017/Author: Jason Gottesman
Categories: News and Views
PSERS director: “We’re very well toward turning the corner on our unfunded liability”

PSERS director: “We’re very well toward turning the corner on our unfunded liability”

During Monday’s budget hearing in front of the House Appropriations Committee, the heads of both of Pennsylvania’s state-run pension plans confirmed that with the Commonwealth next year scheduled to meet 100 percent of its actuarially required contribution (ARC), the state has started to right the ship on what some estimate is as high as a $63 billion unfunded liability.

“We’re very well toward turning the corner on our unfunded liability and paying it off,” said PSERS executive director Glenn Grell about the “fiscal discipline” maintained by budget makers in ensuring the increasing rate collars under Act 120 of 2010 have been met over the last five years.

Monday, March 7, 2016/Author: Jason Gottesman
Categories: News and Views
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