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FBI Investigating Pennsylvania School Pension Fund After Miscalculation FBI Investigating Pennsylvania School Pension Fund After Miscalculation
FBI Investigating Pennsylvania School Pension Fund After Miscalculation Pennsylvania's Public School Employees' Retirement System is under investigation by the FBI due to a 2020 miscalculation. PSERS admitted in a statement on March 12, that an outside consultant's calculation about the fund's investment performance last year was incorrect. The calculation showed a growth of 6.38% over nine years ending June 30, 2020, this would be about the 6.36% threshold meaning 100,000 active PSERS members who are still school employees would be protected from a higher risk-sharing contribution rate scheduled to start July 1 of this year. On March 12, the board held a clo…

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by Jillian Pikora