Glen Grell had been the executive director of Pennsylvania's biggest pension fund for two years in 2017 when he drove by the shuttered newspaper plant near his Harrisburg headquarters and noticed the "for sale" sign. Within a few months, the PSERS plan bought the place for $1.6 million.
A much-awaited investigative report into the PSERS fund ticked off a series of issues with that purchase and others as the fund spent $10 million on a handful of nearby industrial buildings and parking lots.
The report found that PSERS committed the money to buy the printing plant a day before the board voted to approve the purchase. And that the fund bought that building and others without appraisals.
