Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today issued a statement, following the passing of State Representative Robert Godshall:
Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced that he will be transitioning Treasury’s portfolio out of all so-called “hedge fund” investments, resulting in $14 million in annual fee savings and $404 million over 20 years. This move is a further development in Treasury’s overall low-cost, index-based investment strategy and brings total fee savings over 20 years to more than $700 million.
Harrisburg, PA - Treasurer Joe Torsella today announced that the PA ABLE Savings Program (PA ABLE) has surpassed $20 million in assets, reaching more than $21.1 million. PA ABLE is the largest program in the National ABLE Alliance, with assets increasing by more than $9 million since January 1, 2019. There are currently nearly 3,000 individual PA ABLE accounts open.
Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced the authorization of a $1.5 billion line of credit from Treasury’s Short-Term Investment Pool (STIP) to the Commonwealth’s General Fund to be paid back by April 21, 2020, at a variable interest rate equal to the SIFMA Swap Index Yield plus 40 basis points. The administration today made an initial draw of $400 million, at an interest rate of 1.52 percent.