4/8/2021 Updated Statement from PSERS

PSERS has been served with a grand jury subpoena for documents and is cooperating fully with the request by the U.S. Attorney's Office in the Eastern District of Pennsylvania.  To protect the interests of its members, outside counsel has been hired by the Board of Trustees to not only respond to the document subpoena but conduct an investigation into the calculation of the shared risk rate and the basis for the subpoena. PSERS is confident that if any issues are identified that require correction, they will be resolved, and appropriate action will be taken.  Information from the open sessions of the Board will continue to be posted on PSERS website.