HARRISBURG – To fulfill its fiduciary duties to its members, the Public School Employees' Retirement System (PSERS), PSERS' Board, and PSERS' Retirement Fund filed a civil complaint against Aon Investments USA (Aon) in the Philadelphia Court of Common Pleas, Commerce Division. Through this litigation, PSERS seeks to hold Aon accountable for the errors it made related to PSERS' 2020 risk share analysis and recover damages to compensate PSERS for the significant and ongoing harm Aon has caused.
A copy of the Complaints and 9 Exhibits can be read here:
Media contact:
Evelyn Williams
PSERS Communications Director
evwilliams@pa.gov
717-720-4734
About the Pennsylvania Public School Employees' Retirement System
PSERS, founded in 1917, began operations in 1919 to oversee a statewide defined benefit pension plan for public school employees. PSERS' role expanded upon the passage of Act 5 of 2017 to include oversight of two new benefit options consisting of defined benefit and defined contribution (DC) components and a stand-alone DC plan. As of June 30, 2022, PSERS had total net assets of $71.9 billion and a membership of about 248,000 active, 247,000 retired school employees and 27,000 vested inactive members.
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