Search
 
News

Wall Street Secrets Pit Pension Plan Against Trustee

The Pennsylvania teachers’ fund is a microcosm of problems at many public pensions—and some retirement experts say more bad news may come.

By Neil Weinberg | July 05, 2022 at 08:46 AM
Pennsylvania State Senator Katie Muth at the State Capitol in Harrisburg.

When State Senator Katie Muth joined the board of the Pennsylvania teachers’ pension fund last year, she knew she had a lot to learn: With a college degree in athletic training, her financial education consisted largely of paying off her student loans. But she saw the unpaid trustee position at the $75 billion Public School Employees’ Retirement System as a way to protect teachers and state taxpayers—and an extension of her job as a lawmaker.

Little did the 38-year-old know that she was about to get a crash course in high finance and sharp-elbowed pension politics. Or that she would be forced to sue her own fund to get access to internal documents.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

 

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.