Several categories of Pennsylvania Public School Retirement System (PSERS) members recently received a postcard in the mail entitled “Notice of Certification of Class Action and Notice of Preliminary Approval of Partial Settlements in Steinke, et al. v. Aon Investments USA, Inc., et al., Case No. 210601197” (the “Notice”). The case referenced in the Notice involves claims brought by the plaintiffs (who are PSERS members) against four of PSERS’ outside investment consultants. As noted in the Notice, two of those defendants have reached settlements with the plaintiffs.
This is a legitimate mailing relating to a lawsuit currently pending in Pennsylvania state court in Philadelphia. Members who receive the notice should carefully review it as it discusses certain legal rights and remedies those PSERS members may have. Please note, however, that while this action affects certain PSERS members who have been identified as part of the class affected by the claims in the lawsuit, it does not affect all PSERS members. In addition, PSERS itself is not a party in the case.
The Notice was mailed by an administrator appointed in the case. That administrator may mail out additional notices as the lawsuit proceeds or is resolved.
As a non-party entity, PSERS cannot provide any information regarding the case. If you would like further information regarding this class action lawsuit or have any questions, please contact the PSERS Shared Risk Class Action Settlement Administrator by visiting the website identified (www.pserssharedriskclassaction.com) or calling the telephone number provided (877.777.9321) in the Notice.