Pennsylvania PSERS Names New CIO, Tapping UAW Investment Official
Benjamin Cotton fills the position has been vacant for a year amid probes and controversies.
A 2020 accounting error had prompted the investigation that lasted for more than a year.
The regulator is also seeking information on a financial misstatement from 2020 that triggered a contribution increase.
State’s largest pension fund has reportedly spent over $1 million for reporting error damage control.
‘Misstatement’ in 2020 financial reporting could lead to increase in teachers’ pension contributions.
Some of the country’s largest institutional investors are taking precautionary steps to protect their staff from the virus.