Penn SERS Returns 11.1% in 2020
Investment performance for the $35 billion pension fund fell short of its benchmark and a sample 60/40 fund.
Tag: Pennsylvania State Employees Retirement System
Corporate Moves
Penn SERS CIO Seth Kelly Resigns
He leaves the pension fund after less than a year on the job; Deputy CIO James Nolan will take over as acting CIO.
Asset Allocation
Special Report: Why Pennsylvania SERS is Moving Toward a Liability-Driven Benchmark
New CIO Seth Kelly is hiking the fund's asset allocation to fixed income.
Asset Allocation
Penn SERS Redefines Fixed-Income Allocations in Liability-Driven Push
Board also approves $125 million in new private equity, real estate investments.
Pensions
Pennsylvania SERS Loses 4.6% in First Half of 2020
Stress test finds capital preservation plan effective at providing security during market downturn.
Pensions
Pennsylvania SERS Cuts Investment Return Rate Assumption to 7%
Pension board also approves reduction in assumed rate of inflation to 2.5%.
Asset Management Culture
Pennsylvania SERS Names Seth Kelly CIO
Kelly replaces Bryan Lewis, who left last year and is now CIO of US Steel.
Pensions
Pennsylvania SERS Loses 11.69% in Q1
Tumbling equity markets helped weigh down retirement system’s returns.
Asset Management Culture
Pennsylvania SERS Waives Minimum Required Payments from DC Plan
Permitted under the CARES Act, the provision allows portfolios to recover from stock market downturns.
Pensions
Pennsylvania SERS Returns 18.8% in 2019
$30.9 billion fund also earmarks $500 million in new investments.
Corporate Moves
Bryan Lewis, Pennsylvania SERS’s CIO, Is Leaving
Deputy CIO James Nolan recommended to serve in interim by investment committee.
Newsmakers
Actuarial Report Prompts PennSERS Board to Lower Employer Contributions
Board approves nearly $300 million in private equity, multi-strategy investments.
Pennsylvania Retirement System Approves $250 Million in New Investments
Board also reallocates $1 billion within its portfolio.