Harrisburg, PA – State Representative Mike Tobash, Chair, and Pennsylvania Treasurer Joe Torsella, Vice-Chair, of the Public Pension Management and Asset Investment Review Commission (PPMAIRC) today convened the second informational hearing in Harrisburg to examine the need for improvements in transparency around investment expenses and returns of Pennsylvania’s two statewide pension systems. Today’s hearing focused on an analysis of the pension plans across a variety of areas including asset allocation, fees and costs, performance and processes.
Treasurer Torsella recently unveiled Pennsylvania’s first universal children’s savings account program for higher education.
Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced a new phase in his initiative to reunite veterans and their families with the military decorations they have earned. Treasury has launched a new website solely dedicated to reuniting military decorations that have been reported as unclaimed property with their rightful owners.
Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced a major step in Treasury’s transparency initiatives with a policy change mandating the disclosure of all fees paid by the department for the management of Commonwealth assets, whether paid directly or indirectly. This additional fee disclosure continues Treasurer Torsella’s work to identify and disclose the true fees paid for management of Commonwealth assets. The announcement is part of an ongoing effort to increase financial transparency in state government, highlighted by the creation of Treasury’s Transparency Portal, and a focus on reducing Wall Street fees to improve investment returns for taxpayers.
Berwick, PA – Pennsylvania Treasurer Joe Torsella today was joined by Senator John Gordner, a key legislative partner, to celebrate the passage into law of Treasury’s new scholarship grant program, Keystone Scholars. The program becomes available to all Pennsylvania families statewide in January 2019.