State lawmakers met with officials of Pennsylvania's public pension funds Thursday to vet reform measures that have been introduced to increase transparency and oversight of the pension system.
The measures are working their way through the legislative process and could be considered for passage this year. Thursday's hearing offered participants a chance to voice concerns or probe for costs and conflicts that could derail the measures.
Calls for reform have a renewed urgency with the larger of two funds, the Public School Employees' Retirement System, known as PSERS, facing a pair of federal investigations, turnover among top staff, and calls by lawmakers of both parties to make public its own delayed internal investigation of exaggerated profits and Harrisburg land deals. The $73 billion fund is the largest in the state.
