Pennsylvania Public School Employees' Retirement System

Since 1917, PSERS has been serving the public school employees of the Commonwealth of Pennsylvania. PSERS was created as a defined benefit plan; a qualified trust under Section 401(a) of the Internal Revenue Service Code. PSERS’ role expanded upon the passage of Act 5 of 2017 to include oversight of two new hybrid options consisting of defined benefit and defined contribution (DC) components and a stand-alone DC plan. To serve the increasingly complex retirement needs of our members, PSERS continues to initiate and to expand its active and retired member programs and to enhance return through a safe yet agile investment policy.

Country

United States

AUM ($B, AS AT DATE OF ASSET ALLOCATION)

$70

Performance (%, 1YR)

2.23

Chief Executive

Terrill J. Sanchez

Chief Investment Officer

Benjamin L. Cotton

Chair

Chris Santa Maria

Asset allocation

22.2% Public Equity

31.4% Fixed Income

17.1% Private Equity

10.4% Real Estate

6.4% Absolute Return

10.3% Commodities

2.2% Other

Website

View the annual report

Global Pension Transparency Benchmark country system description

Asset allocation as of June 30, 2022. All information is as per the most recent annual report or other publicly available data via the fund's website

Penn PSERS trims leverage, adds fixed income and hones in on fees

The $71.9 billion Pennsylvania Public School Employees' Retirement System has reduced net leverage, added fixed income and continues to shave costs off its external investment management fees, mostly by reducing private allocations. The trimming and shifting of the portfolio is part of an adjusted SAA responding to ongoing market changes.

PennPSERS reports carried interest

PennPSERS has announced it pays its private equity GPs about 20 per cent of investment profits. The reveal from the $56.7 billion public pension fund, which came after a laborious process involving 500 staff hours, expands on its commitment to transparency.