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PA PSERS Statement to Members on SEC Investigation and Orders

01/25/2024

MEDIA CONTACT: Steve Esack, 717-418-7526, stesack@pa.gov

HARRISBURG, PA – The Pennsylvania Public School Employees' Retirement System (PSERS) has been informed by the Securities and Exchange Commission (SEC) that based on the information it has received to date, it has concluded its investigation of PSERS without recommending any enforcement actions be taken.

The SEC's communication was received today in a letter sent to PSERS' outside counsel.

“We are pleased with the developments today from the SEC and equally excited to be sharing such positive news with our members," Board Chairperson Richard Vague said.  “Additionally, I'd like to take the opportunity to thank staff at PSERS and our outside counsel for representing our membership so effectively in this matter."

Further, PSERS is closely monitoring the recent announcements by the SEC concerning settled charges against Aon Investments USA, Inc. and one of its former employees.  PSERS continues to review the SEC orders.  For additional information, please refer to the press release issued by the SEC, available online at SEC.gov | SEC Charges Chicago-based Aon Investments and Former Partner with Misleading Pennsylvania Public Employees' Pension Fund.

PSERS declines further comment on the SEC matters due to pending litigation with Aon Investments USA, Inc.

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