Daily News | PSERS’ legal bills jump as FBI and SEC continue probes of Pa.’s largest pension fund
last year, as did Grossman’s deputy Charles Spiller and chief counsel Jackie Wiess Lutz. A committee appointed by board chair Chris Santa Maria, a history teacher from Lower Merion, and headed by Sue Lemmo, an art teacher from Curwensville, north of Altoona, is hunting for executive replacements.have been reviewing the system’s exaggerated investment returns for 2011-20, which led PSERS to reverse course and levy higher pension contributions from 100,000 mostly younger teachers.
- $1.08 million to Seattle-based Verus Advisory Inc., hired to recommend investments and review PSERS procedures while staff coped with the investigations; “There is no benefit” to PSERS members from continuing the case, since the judges ruled Muth is in fact “authorized” to receive the records she seeks, agreed Christopher Craig, an aide to state treasurer Garrity.
- $182,700 to Kleinbard LLC, a Philadelphia firm that has represented Grossman, PSERS’ former chief investment officer, in connection with the investigations.per year, defending or advising staff in response to civil or criminal investigations. PSERS has said eight employees were represented by lawyers in connection with the investigations.
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