Skip to content
Business
Link copied to clipboard
Link copied to clipboard

Final PSERS report suggests how the Pa. school pension should prevent errors, defuse conflicts of interest

Investigators say staff members feared warning managers of poor data and bad math at the $77 billion state-funded plan. A report details how PSERS could fix these issues.

Richard Vague, the credit card and energy marketing executive turned Philadelphia philanthropist, venture capitalist, public intellectual and political donor, and a past Pennsylvania banking secretary, at a PSERS investment committee meeting in Harrisburg in 2021. Vague is now chairman of the PSERS board, which oversees $77 billion in investments for half a million working and retired public-school employees.
Richard Vague, the credit card and energy marketing executive turned Philadelphia philanthropist, venture capitalist, public intellectual and political donor, and a past Pennsylvania banking secretary, at a PSERS investment committee meeting in Harrisburg in 2021. Vague is now chairman of the PSERS board, which oversees $77 billion in investments for half a million working and retired public-school employees.Read moreTYGER WILLIAMS / Staff Photographer