Report: US commission seeks info on possible gifts to Pennsylvania pension’s staff

Pennsylvania

FILE: $100 bills. (NEXSTAR)

PHILADELPHIA (AP) — The U.S. Securities and Exchange Commission has joined a federal probe of Pennsylvania’s largest pension fund and is seeking records to determine whether improper “compensation and gifts” may have been offered to staff.

The Philadelphia Inquirer reports that the commission is also seeking records about what officials of the $64 billion Public School Employees’ Retirement System have called a mistake in calculating the fund’s long-term investment performance.

A system official declined comment.

System officials in April confirmed that federal authorities were seeking documents on the the risk-sharing calculations.

Federal investigators also sought information on the fund’s purchases of parcels of land in downtown Harrisburg.

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