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Final Report and Recommendations: Public Pension Management and Asset Investment Review Commission

Treasurer Torsella Renews Call For Independent Board Chair at Facebook

Widely-supported proposal would separate the positions of Board Chair and CEO, increasing accountability

Harrisburg, PA - Pennsylvania State Treasurer Joe Torsella joined five other institutional investors to call for an independent board chair at Facebook, Inc. The investors have re-filed their proposal to separate the positions of Board Chair and CEO, which earned 68% support from shareholders outside of Facebook’s headquarters in May of 2019. The proposal will be voted on at Facebook’s 2020 Annual Shareholder Meeting.

Treasurer Torsella Commends SERS for Reducing Risk in Asset Allocation

SERS Board of Trustees approved a 12% reduction to illiquid investments

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today issued the following statement regarding the approval of SERS’ newest Investment Policy Statement, which increases transparency and liquidity of investments, while reducing management fees paid to external advisors: