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The omitted information set the stage for the board to vote to certify an incorrect and exaggerated sum for its investment performance.
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Massive probe of Pa.’s largest pension fund is nearly done, but taxpayers may never know the resultsSome PSERS staff believe the probe’s findings could be damaging to their reputations. Their lawyers are pushing for the report to be kept private or contain rebuttals.
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On today’s program: Joseph DiStefano from the Philadelphia Inquirer explains how the state’s Public School Employee Retirement System board has decided to change its investment strategy after underperforming for years and being the subject of federal probes; the National Aviary’s director of animal program and experiences recounts how Kodiak, the Steller's Sea Eagle, was safely returned after escaping his enclosure and living on his own for nine days; and a look at how the state’s assistive technology program is increasing accessibility to residents with 3-D printed tools, all while gaining hundreds of thousands of TikTok followers.
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The $64 billion pension fund claimed in a new IRS filing that its previous disclosures were poorly worded and filed in "error."