Established in 1923, the Pennsylvania State Employees’ Retirement System is one of the nation’s oldest and largest statewide retirement plans for public employees. It has more than 239,000 members and assets of nearly $29.3 billion. It also administers, through a partnership with a third-part administrator, a voluntary deferred compensation plan with nearly 56,000 participants and assets of $3.5 billion.
Cash is king right now, according to CIO of the Pennsylvania School Employees’ Retirement System, Jim Grossman, and he’s got plenty of it. The fund has a very diversified asset allocation, with about half the portfolio invested in liquid assets and Grossman and his team are working hard to make sure that the strategic allocations are maintained.
Amanda WhiteApril 6, 2020
Ensuring a portfolio has enough liquidity to rebalance back to the long-term strategic asset allocation is the most critical preparation investors can do ahead of any crisis, according to Mark Wiseman, who said this current environment could be the "opportunity of a generation".
Amanda WhiteApril 3, 2020