Press Releases Archive

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If you are a member of the media working on a story, email your questions to phile@pa.gov or call our communications office at 717.787.9657. It's helpful to let us know if you're working on a deadline and which media outlet you represent.

12/10/14
PA SERS Board Unanimously Selects New Chief Investment Officer;
Reports Investment Performance

Following a national search conducted over the last several months, the board of the Pennsylvania State Employees' Retirement System today announced the selection of Thomas F. Brier as the Chief Investment Officer.

10/29/2014
PA SERS Board Approves $200 Million in New Investments;
Several Administrative Matters Addressed

The Board of the Pennsylvania State Employees' Retirement System meeting here today, approved up to $200 million for four new investments split between two asset classes, and addressed a number of administrative matters.

09/17/2014
PA SERS Receives Reports on Independent Investigation and Second Quarter Investment Performance;
Commits $100 Million to Alternatives

The Board of the Pennsylvania State Employees' Retirement System meeting here today, received a report on the independent investigation of allegations involving the system's former CIO and a report on the fund's second quarter investment performance, and approved $100 million in alternative investments.

07/23/2014
PA SERS Dircts $75 Million to Alternative Investments
The Pennsylvania State Employees' Retirement System today approved #75 million in alternative investments, subject to successful contract negotiations.

07/10/2014
PA SERS Selects Firm for Chief Investment Officer Search
Korn/Ferry International Win Competitive Bid.

06/24/2014
PA SERS Releases Comprehensive Annual Financial Report for 2013
SERS invites you to review our latest comprehensive annual financial report that presents the system's 2013 audited financial statements and provides a wealth of investment, actuarial, and statistical detail.

06/13/2014
Member Update: Hazleton Regional Counseling Center Has Moved
After many years at the same location, we've moved our region 5 counseling center from Hazleton to Wilkes-Barre.

06/11/2014
PA SERS Reports First Quarter Investment Performance
Directs $50 million to Alternative Investments

The Pennsylvania State Employees' Retirement System announced earning a net-of-fees return of 2.7% on investments for the first quarter of 2014, which added approximately $726 million to the fund.

April 30, 2014
PA SERS Adopts Employer Contribution Rate
Reviews Key Results of the 2013 Actuarial Valuation and Investment Allocation Targets

March 12, 2014
PA SERS Reports Strong Investment Performance
Discusses Assumed Rate of Return; Addresses Personnel and Administrative Matters

January 22, 2014
PA SERS Board Changes Leadership
Preliminary 2013 Return Discussed; Several Administrative Matters Addressed

December 11, 2013
PA SERS Board Reports Positive 3rd Quarter Investment Performance
Approves $185 Million in Investments; Authorizes Independent, Comprehensive Assessment of Allegations and Review of Investment Processes

October 23, 2013
PA SERS Board Directs $200 million to Private Equity

September 11, 2013
PA SERS Board Reports Investment Performance
Approves $100 Million in Investments

July 17, 2013
PA SERS Board Approves $70 Million in New Investments

June 5, 2013
PA SERS Board Reports Positive First Quarter Investment Performance
Approves $160 Million in Investments

April 24, 2013
PA SERS Board Adopts Employer Contribution Rate
Approves Key Results of 2012 Actuarial Valuation; Approves $625 Million in Investments

March 6, 2013
PA SERS Reports Positive Investment Performance
Approves $700 Million in Investments

January 23, 2013
PA SERS Commits $150 million to Diversifying Assets Portfolio
Reports Preliminary 2012 Performance; Increases CIO Compensation

December 05, 2012
PA SERS Reports Positive Investment Performance
Approves $690 Million in Investments

The Pennsylvania State Employees' Retirement System today announced positive third quarter returns that contributed to a net-of-fees return of 9.6% on investments for calendar year-to-date September 30, 2012.

October 24, 2012
PA SERS Approves $50 million Private Equity Investment
Also Addresses Fixed Income and Diversifying Assets Portfolios

The Board of the Pennsylvania State Employees' Retirement System today approved a $50 million private equity investment and continued implementing its 2012-2013 Strategic Investment Plan related to its fixed income and diversifying assets portfolios.

October 03, 2012
PA SERS Issues RFP For Deferred Compensation Program Third-Party Administrator
The Pennsylvania State Employees' Retirement System today announced that it is accepting proposals for third-party administration of the Commonwealth's Deferred Compensation Program.

September 08, 2012
PA SERS Reports Second Quarter Investment Performance
Approves $60 million in Follow-On Investments; Hires Diversifying Assets Consultant

The Pennsylvania State Employees' Retirement System today announced second quarter returns that contributed to a net-of-fees return of 6% on investments from January 1 through June 30, 2012.

July 25, 2012
PA SERS Board Approves $100 million in Alternative Investments
The Board of the Pennsylvania State Employees' Retirement System, meeting here today, moved to commit up to $100 million to two special situations funds in the alternative investments portfolio.

June 13, 2012
PA SERS Reports Positive First Quarter Investment Performance
Approves $125 million in Investments

The Pennsylvania State Employees' Retirement System today announced earning a net-of-fees return of 6% on investments during the first quarter, contributing approximately $1.5 billion to the Fund.

May 02, 2012
PA SERS Board Reduces Return Assumption, Certifies Employer Contribution Rate;
Approves $825 million in Investments

The Pennsylvania State Employees' Retirement System Board today voted to reduce its actuarial rate of return assumption to 7.5%.

March 07, 2012
PA SERS Reports 2011 Investment Performance
Expands Energy Sector Exposure

The Pennsylvania State Employees' Retirement System today announced a positive fourth quarter 2011 return that helped the Fund achieve a 2.7% net-of-fees return for the year, despite the economic turbulence that weighed heavily on most investors

February 23, 2012
SERS Officials Discuss Agency Budget and Operations During Budget Hearings
Release 2012 Supplemental Budget Information Book

Testifying before the State Senate and House Appropriations Committees today, SERS Board Chairman Nicholas J. Maiale, Acting Executive Director David E. Durbin and Chief Investment Officer Anthony S. Clark will discuss the agency's budget, operations and investments.

January 25, 2012
PA SERS Board Approves Real Estate Investment
The Board of the State Employees' Retirement System, meeting here today, acted to invest $20 million in a new real estate fund.

December 07. 2011
PA SERS Reports Positive Investment Performance Through September
New Program Targets Equity-Like Returns; Acting Executive Director Named

The State Employees' Retirement System today reported earning a net-of-fees 1.9% return on investments from January through September 2011, despite a challenging third quarter for world markets.

October 26, 2011
PA SERS Restructures Assets Within Existing Fixed Income and Equity Portfolios
The Board of the State Employees' Retirement System today moved to restructure assets within the Fund's existing fixed income and global equity portfolios.

September 28, 2011
PA SERS Reports Positive Second Quarter Performance;
Board Hires General and Alternative Investment Consultants

The Pennsylvania State Employees' Retirement System today announced earning a net-of-fees return of 2.1% in the second quarter, the fourth straight quarter of positive returns for the Fund resulting in an 18.8% gain for the year ended June 30.

July 20, 2011
PA SERS Board Approves Investments in Fixed Income and Real Estate
The Board of the Pennsylvania State Employees' Retirement System, meeting here today, moved to commit up to $500 million to a U.S. Treasuries portfolio and up to $25 million to a real estate high yield debt fund.

June 08, 2011
PA SERS Fund Reports 4.7% Return In First Quarter;
Board Approves $45 million in Alternative Investments

The Pennsylvania State Employees' Retirement System today announced earning 4.7% in the first quarter of the year, adding $1.2 billion to the Fund.

April 27, 2011
PA SERS Board Certifies Employer Contribution Rate
Approves Key Results of 2010 Actuarial Report

The Board of the Pennsylvania State Employees' Retirement System, meeting here today, certified the composite employer contribution rate for the 2011-12 fiscal year at 8% of payroll, up from the current 5%.

March 09, 2011
PA SERS Reports 2010 Investment Performance; Fund gains 11.9%; earnings totaled $2.7 billion
Approves three follow-on investments

The Pennsylvania State Employees' Retirement System today announced earning 5.7% in the fourth quarter, bringing annual performance to 11.9%, well above the Fund's 8% long-term assumed rate of return.

February 15, 2011
PA SERS Board Hires PBGC Official As Chief Investment Officer
Following a national search, the Pennsylvania State Employees' Retirement Board today announced that it has hired Anthony S. Clark, CFA, as the System's new chief investment officer.

January 26, 2011
PA SERS Board Approves $50 million In Alternative Investments;
Moves to Align Actuarial Assumptions With Recent Experience

The State Employees' Retirement System Board today approved two private equity investments totaling up to $50 million and moved to adjust actuarial assumptions to more closely align with recent experience.