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

[TexasTowelie]

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


HARRISBURG — After months of work, prolonged silence from pension fund management, and more than $175,000 in legal bills, a law firm has just about completed its investigation into sweeping problems at the $73 billion, taxpayer-supported public pension plan for educators.

Now the PSERS board is debating how much to share with the public, how soon to share it — and how to cope with a pushback from employees subjected to criticism in the investigation.

In a closed-door presentation to a board committee, according to people familiar with the matter, the outside lawyer who led the investigation recently warned that some staff will see the probe’s findings as damaging to their reputations.

Treading carefully, the Womble Bond Dickinson law firm is currently planning to provide the board only with a verbal rundown of its findings and not to produce a written report until weeks later, by the end of the year. The firm was ready to provide the briefing Nov. 18, but the date could be delayed.

Read more: https://www.spotlightpa.org/news/2021/11/pa-education-pension-fund-probe-public-report/