Teacher Union Interests and Pennsylvania Pension Fund Governance

Mike Antonucci:

AFT Pennsylvania called for the resignationsof most of the board of the state school employees pension system amid allegations of dubious investments, lack of transparency and funny math.

A federal grand jury is investigating the Pennsylvania School Employees Retirement System (PSERS) “looking for evidence of kickbacks or bribery” and “potential concealment of material information,” according to reports.

“Through alleged errors and omissions, and under a shroud of secrecy, this PSERS Board appears to have jeopardized the present and future financial security of our Commonwealth’s most dedicated public servants,” wrote Arthur Steinberg, president of AFT Pennsylvania, in a letter to PSERS board members.