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News Release

  1. Home
  2. Newsroom
  3. June 2017
  • 29 June, 2017
  • By Heidi Havens
  • 717-787-2991
  • hhavens@patreasury.gov

Treasury Outlines Budgetary Impasse Payment Authority


Impasse Cover Letter (PDF)

Impasse Legal Memo (PDF)

Impasse Q and A (PDF)

Archived

June 2019 (1)

  • 06/04/19
    Dramatic 68% vote for Independent Board Chair Strengthens Investors’ Call for Change at the Top of Facebook
  • View All of June Releases

May 2019 (4)

  • 05/29/19
    Treasurers from Three States to Support Independent Board Chair at Facebook
  • 05/10/19
    Treasurer Torsella Files Enforcement Action against PPL Corporation to Protect Pennsylvania Consumers
  • 05/09/19
    Treasurer Torsella Named To Represent Class in Alleged Bond Manipulation Scheme
  • 05/03/19
    Treasurer Torsella, Reps. Kyle Mullins, Marty Flynn, and Bridget Kosierowski Celebrate Keystone Scholars Program
  • View All of May Releases

April 2019 (1)

  • 04/05/19
    Treasurer Torsella Calls on Senator Daylin Leach to Resign
  • View All of April Releases

March 2019 (5)

  • 03/27/19
    Treasurer Torsella Releases Report On the Proceedings of the Retirement Security Task Force
  • 03/25/19
    Treasurer Torsella Announces PA ABLE Savings Program Surpasses $15 Million in Assets
  • 03/22/19
    Treasurer Torsella Launches Keystone Scholars Statewide
  • 03/21/19
    Treasurer Torsella Files Court Documents in Alleged Bond Manipulation Scheme
  • 03/05/19
    Treasurer Torsella Authorizes $650 Million Short-Term Loan
  • View All of March Releases

February 2019 (2)

  • 02/19/19
    Pennsylvania Treasury and Department of Auditor General to Celebrate Black History Month
  • 02/05/19
    Treasurer Torsella Launches Next Phase Of Transparency Portal
  • View All of February Releases

January 2019 (4)

  • 01/29/19
    Treasurer Torsella Announces Pa ABLE Savings Program Exceeds $11 Million in Assets
  • 01/28/19
    2018 Marks the Best Year on Record for the Pa 529 College and Career Savings Program
  • 01/28/19
    Treasurer Torsella Authorizes Short-Term Transfer
  • 01/17/19
    Treasurer Torsella Issues Statement On Passing Of John Bogle
  • View All of January Releases

2018 (58)

December 2018 (3)

  • 12/20/18
    Public Pension Management and Asset Investment Review Commission Releases Report On Needed Reforms
  • 12/04/18
    Pennsylvania Treasury Expands Transparency Efforts to Board of Finance and Revenue Proceedings
  • 12/01/18
    Treasurer Torsella Issues Statement on Passing of Former President George H.W. Bush
  • View All of December Releases

November 2018 (5)

  • 11/29/18
    Treasurer Torsella Again Donates Automatic Pay Increase
  • 11/15/18
    Treasurer Torsella Announces Unprecedented Growth of PA ABLE Savings Program
  • 11/13/18
    Treasurer Torsella Announces Decision Not To Accept Campaign Contributions From Gaming Interests Despite Federal Ruling
  • 11/09/18
    Treasurer Torsella Wants Veterans Groups To Claim Every Dollar They’re Owed
  • 11/08/18
    Treasurer Torsella, Inspired By Recent War Medal Returns, Continues Search for Military Heroes
  • View All of November Releases

October 2018 (4)

  • 10/25/18
    Public Pension Management and Asset Investment Review Commission Holds Final Hearing in Harrisburg
  • 10/17/18
    Illinois State Treasurer Frerichs, Rhode Island State Treasurer Magaziner, Pennsylvania Treasurer Torsella, and New York City Comptroller Stringer Press for Independent Board Chair at Facebook
  • 10/15/18
    Treasurer Torsella Celebrates 25th Anniversary of PA 529 Program
  • 10/09/18
    Treasurer Torsella Launches Next Phase Of Transparency Portal
  • View All of October Releases

September 2018 (5)

  • 09/20/18
    Public Pension Management and Asset Investment Review Commission Continues Hearings in Harrisburg
  • 09/10/18
    Treasurer Torsella Unveils New Webpage Dedicated To Unclaimed Military Decorations
  • 09/07/18
    PA Treasury Sets New Standard On Fee Transparency
  • 09/07/18
    Treasurer Torsella Celebrates Passage of Keystone Scholars Legislation
  • View All of September Releases

August 2018 (3)

  • 08/20/18
    Treasurer Torsella Encourages Families to Contribute to Pa 529 Guaranteed Savings Plan before Tuition Rates Increase at Most Schools
  • 08/07/18
    Treasurer Torsella Searches For Purple Heart Recipients
  • 08/01/18
    Amendment To Unclaimed Property Law Keeps More Money In Pennsylvanians’ Hands
  • View All of August Releases

July 2018 (4)

  • 07/30/18
    Public Pension Management and Asset Investment Review Commission Holds First Hearing in Harrisburg
  • 07/25/18
    Treasurer Torsella Announces Historic Amount of Unclaimed Property Returned To Taxpayers
  • 07/18/18
    Pennsylvania Treasury Provides Testimony before U.S. Senate Special Committee on PA ABLE Program
  • 07/13/18
    Treasurer Torsella Responds to State System Tuition Increase
  • View All of July Releases

June 2018 (5)

  • 06/28/18
    Treasurer Torsella Celebrates Immigrant Heritage Month by Searching For Non-Profit Organizations with Unclaimed Cash
  • 06/25/18
    Treasurer Torsella’s Keystone Scholars Program Signed into Law by Governor Wolf
  • 06/25/18
    Treasurer Torsella’s Keystone Scholars Program Passes General Assembly
  • 06/06/18
    Treasurer Torsella Boosts Investment in Israel
  • 06/06/18
    Treasurer Torsella Searching For Families of World War II Veterans
  • View All of June Releases

May 2018 (7)

  • 05/30/18
    Tobash and Torsella to Lead Public Pension Management and Asset Investment Review Commission
  • 05/25/18
    Treasurer Torsella Searching For Over 500 Military Medal Owners
  • 05/23/18
    Treasurer Torsella Announces Expansion of Lower-Cost Passive Investment Strategy
  • 05/18/18
    Treasurer Torsella Launches Keystone Scholars Program at Luzerne County Head Start
  • 05/17/18
    Treasurer Torsella Launches Keystone Scholars Program in Elk County with Visit to St. Marys Carbon Manufacturing Facility
  • 05/07/18
    Pennsylvania Treasury Receives Global Award for Transparency Portal
  • 05/03/18
    Treasurer Torsella Continues Keystone Scholars Launch Tour With Visit To Jerome S. Parker Advanced Technology Center At Delaware County Community College
  • View All of May Releases

April 2018 (6)

  • 04/27/18
    Treasurer Torsella Continues Keystone Scholars Launch Tour at Geisinger Lewistown Hospital
  • 04/27/18
    Treasurer Torsella Issues Statement on Sers Asset Allocation Changes
  • 04/20/18
    Pennsylvania Treasurer Joe Torsella, United States Senator Bob Casey Celebrate One Year Anniversary of Pa Able Savings Program
  • 04/18/18
    Treasurer Torsella Issues Statement on Passing of Former First Lady Barbara Bush
  • 04/12/18
    Treasurer Torsella Continues Keystone Scholars Launch Tour with Visit To Indiana County Technology Center
  • 04/12/18
    Treasurer Torsella Kicks-Off Keystone Scholars Launch Tour with Hospital Visit
  • View All of April Releases

March 2018 (4)

  • 03/28/18
    Treasurer Torsella Warns Pennsylvanians of Telephone Scam
  • 03/15/18
    Treasurer Torsella Finds Luck Of The Irish In Commonwealth
  • 03/14/18
    Treasurer Torsella Urges Strong Fiduciary Protections For Individual Investors
  • 03/06/18
    Treasurer Torsella Announces Substantial Fee Reduction For Pa 529 Guaranteed Savings Plan Account Holders
  • View All of March Releases

February 2018 (8)

  • 02/26/18
    Treasurer Torsella Unveils Universal Children’s Savings Accounts For Higher Ed
  • 02/21/18
    Treasurer Torsella Opens Inquiry Into Findings of Lending Disparities at Financial Institutions Handling PA Funds
  • 02/21/18
    Treasurer Torsella Announces Repayment Of $600 Million Stip Balance
  • 02/21/18
    Treasurer Torsella Announces First-Ever Chief Integrity Officer
  • 02/15/18
    Treasurer Torsella Announces Substantial Fee Reduction For Pa 529 Investment Plan Account Holders
  • 02/14/18
    Treasurer Torsella Hears Testimony On Possible Solutions To State’s Private Sector Retirement Security Crisis
  • 02/14/18
    Treasurer Torsella Looks to Reunite Lonely Hearts with Their Property
  • 02/07/18
    Treasurer Torsella Announces Increased Capabilities To Award-Winning Transparency Portal
  • View All of February Releases

January 2018 (4)

  • 01/29/18
    Unclaimed Philadelphia Eagles Gear Held In Treasury Vault
  • 01/25/18
    Treasurer Torsella Unveils New Study: Insufficient Retirement Savings Projected to Cost Commonwealth $14.3 Billion in State Assistance by 2030
  • 01/18/18
    Treasurer Torsella Announces PA ABLE Program Exceeds $4 Million in Assets
  • 01/17/18
    Pennsylvania Treasury Finishes 2017 with Historic Unclaimed Property Return
  • View All of January Releases

2017 (67)

December 2017 (8)

  • 12/22/17
    Pennsylvania Treasury Donates more than $30 Thousand in Unclaimed Property to Local Charities
  • 12/21/17
    Treasurer Torsella Announces New Consumer Protection Measure for Unclaimed Property
  • 12/20/17
    Treasurer Torsella to Donate Automatic Pay Increase
  • 12/19/17
    Treasurer Torsella Calls on Mylan and Depomed to Combat Opioid Epidemic
  • 12/15/17
    Treasurer Torsella Announces Fourth Request to Draw $600 Million from Line of Credit
  • 12/14/17
    Treasury Receives Two Awards for Transparency
  • 12/14/17
    Treasurer Torsella Encourages Pennsylvanians to Give the Gift of Financial Security this Holiday Season
  • 12/12/17
    Treasurer Torsella Praises PSERS Board for Adopting Cost Saving and Supplemental Retirement Resolutions
  • View All of December Releases

November 2017 (3)

  • 11/17/17
    Treasurer Torsella Continues Regional Retirement Security Hearings
  • 11/15/17
    Treasurer Torsella Announces Request to Draw $1.2 Billion From Line of Credit
  • 11/01/17
    Treasurer Torsella Announces Request to Draw $200 Million from Line of Credit
  • View All of November Releases

October 2017 (4)

  • 10/27/17
    Treasurer Torsella Authorizes $1.8 Billion Line of Credit to General Fund
  • 10/26/17
    Treasurer Torsella Holds Retirement Security Hearing in Allentown
  • 10/20/17
    Treasurer Torsella Announces Repayment of $700 Million STIP Loan
  • 10/12/17
    Treasurer Torsella Authorizes $700 Million Line of Credit to General Fund
  • View All of October Releases

September 2017 (5)

  • 09/20/17
    Treasurer Torsella Issues Statement on S&P Credit Downgrade
  • 09/18/17
    Treasurer Torsella Praises SERS Board for Adopting Resolutions to Reduce Fees
  • 09/12/17
    Treasurer Torsella Issues Statement on Short Term Investment Pool, Status of General Fund
  • 09/06/17
    Treasurer Torsella Issues Statement on Trump Administration DACA Decision
  • 09/05/17
    State Treasurers Urge More Drug Companies to Help Fight Opioid Epidemic
  • View All of September Releases

August 2017 (6)

  • 08/16/17
    Treasurer Torsella Announces Draw of Full $750 Million STIP Loan
  • 08/14/17
    Treasurer Torsella Announces Financial Results for PA 529 Guaranteed Savings Program Accounts
  • 08/10/17
    Treasurer Torsella Encourages Families To Contribute To Pa 529 Guaranteed Savings Plan Before Schools’ Tuition Rates Increase
  • 08/10/17
    Treasurer Torsella Welcomes Auditor General’s Performance Audit Of SERS
  • 08/03/17
    Treasurer Torsella Authorizes $750 Million Line of Credit to General Fund
  • 08/03/17
    Pennsylvania Treasurer Torsella Hosts Roundtable In Dauphin County To Discuss PA ABLE Program
  • View All of August Releases

July 2017 (8)

  • 07/28/17
    Statement on McKesson Corp.’s Decision to Split the Roles of Chairman and CEO
  • 07/27/17
    Treasurer Torsella Announces Record Amount of Unclaimed Property Returned to Taxpayers
  • 07/25/17
    Three State Treasurers Tell McKesson Corp. to Help Fight Heroin Epidemic
  • 07/18/17
    Treasurer Torsella Responds To The State System’s Tuition Increase
  • 07/18/17
    Treasurer Torsella Responds to Health Care Bill Collapse
  • 07/13/17
    Treasurer Torsella Warns Pennsylvanians of Telephone Scam
  • 07/13/17
    Treasurer Torsella Announces Major Milestone for PA ABLE Savings Program
  • 07/10/17
    Treasurer Torsella Joins Nationwide Effort to Remain in Paris Climate Accord
  • View All of July Releases

June 2017 (6)

  • 06/29/17
    Treasury Outlines Budgetary Impasse Payment Authority
  • 06/29/17
    Treasurer Torsella, Auditor General DePasquale Urge Senator Toomey to Vote for Pennsylvanians, Against Better Care Reconciliation Act
  • 06/20/17
    Pennsylvania Treasury Processes Almost 600,000 Property Tax/Rent Rebate Relief Payments Helping Low-Income Individuals
  • 06/14/17
    Treasurer Torsella Leads Bipartisan Effort on Fiduciary Standard Rule
  • 06/05/17
    Treasurer Torsella Unveils Improved Transparency Portal
  • 06/02/17
    Treasurer Torsella Responds to Trump Climate Accord Decision
  • View All of June Releases

May 2017 (10)

  • 05/25/17
    Treasurer Torsella Welcomes Auditor General’s Performance Audit of PSERS
  • 05/25/17
    PA Treasurer Torsella Praises Announcement that Implementation of Fiduciary standard Rule Will Begin Next Month
  • 05/24/17
    Thousands of Dollars Available for Claim by PA Fire Companies
  • 05/18/17
    Pa Treasurer Torsella Warns of Possible Unclaimed Property Scams
  • 05/17/17
    Pa Treasurer Torsella Praises House Passage of Bill Prohibiting Pensions for Convicted Public Officials
  • 05/04/17
    Pa Treasurer Joe Torsella Issues Statement After Congress Passed Resolution Overturning State-Administered Retirement Plans
  • 05/04/17
    Auditor General DePasquale and Treasurer Joe Torsella Release Statements on U.S. House Passage of Disastrous Health Care Bill
  • 05/03/17
    PA Treasurer Joe Torsella Praises Moves by Pension Fund
  • 05/01/17
    Pa Treasurer Torsella Issues Statement Applauding Recent Passage of House Resolution
  • 05/01/17
    State Treasurer Torsella, Local Government Officials, Highlight Successful Energy Program, Saving Taxpayer Dollars
  • View All of May Releases

April 2017 (3)

  • 04/24/17
    Innovative intergovernmental cooperative effort to upgrade lighting in 35 SE PA communities will save almost one million dollars annually
  • 04/10/17
    PA Treasurer Joe Torsella Sets New Low-Cost “Passive” Investment Strategy
  • 04/03/17
    PA Treasurer Joe Torsella, US Senator Casey Announce Opening of ABLE Accounts to Help Individuals with Eligible Disabilities Save for Future Expenses
  • View All of April Releases

March 2017 (2)

  • 03/13/17
    PA Treasurer Joe Torsella “Bonds” With Israel
  • 03/13/17
    ICYMI: PA Treasurer Torsella Writes in “The Hill” on Why Congress Should Not Get in the Way of State Innovation on Retirement Solutions
  • View All of March Releases

February 2017 (6)

  • 02/21/17
    PA Treasurer Torsella: We Will Be Transparent in All We Do on Behalf of Taxpayers
  • 02/15/17
    Pa Treasurer Torsella Issues Statement on Passage of US House Resolutions Restricting Access to Retirement Options
  • 02/13/17
    PA Treasurer Torsella Praises the Impact of Achieving a Better Life Experience (ABLE) Act on PA Residents During National Association of State Treasurers’ Meeting
  • 02/07/17
    PA Treasurer Torsella Issues Statement on Commonwealth's Proposed Budget
  • 02/02/17
    Groundbreaking PA Treasury Transparency Website Feature Allows Taxpayers to Track General Fund Balance for the First Time
  • View All of February Releases

January 2017 (6)

  • 01/26/17
    Pennsylvanians Can Now Send State Tax Refunds Directly to a PA 529 College Savings Account
  • 01/23/17
    Auditor General DePasquale, Treasurer Torsella Warn of Health Care, Fiscal Impacts if Medicaid Expansion Eliminated
  • 01/20/17
    PA Treasurer Joe Torsella Reduces Treasury’s Vehicle Pool by More than Half
  • 01/19/17
    PA Treasurer Joe Torsella Institutes First Code of Conduct and Conflict of Interest Policy for Treasury Investment Activities
  • 01/18/17
    PA Treasurer Joe Torsella Bans Middleman Fees for Treasury Investment Contracts
  • 01/17/17
    At Swearing-In, New PA Treasurer Joe Torsella Calls for Accountability, Transparency and Innovation with Bipartisan Support
  • View All of January Releases

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