News Releases - November 2020


Treasurer Torsella Announces New Treasury Partnership With Einstein Healthcare Network

New community partnership will educate more Pennsylvania families about $100 Keystone Scholars starter deposits for higher education savings

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced a new partnership with Einstein Healthcare Network® in Philadelphia to help educate families about Treasury’s Keystone Scholars program which offers $100 starter deposits into PA 529 College and Career Savings Program plans for babies born to or adopted by Pennsylvania families.


$100,000 Grant Awarded To Treasury And Partners To Promote Financial Wellness

Grant will expand resources for state employees to improve financial wellness

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today announced the receipt of a $100,000 grant that will promote financial wellness for more than 85,000 state employees, and create new programs for employees of Treasury and the Auditor General’s office. Treasury was awarded the grant along with the Department of Banking and Securities, the Office of Administration and the Department of the Auditor General. Treasury and its partners are one of 24 state and local government jurisdictions awarded grants.


Treasurer Torsella Releases Covid-19 Debt Cost Reduction Review

New report details debt held by Commonwealth authorities, identifies refinancing opportunities to reduce costs by $179.5 million

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella today released the COVID-19 Debt Cost Reduction Review, pursuant to Act 37 of 2020. In preparing this report, Treasury reviewed more than 30 Commonwealth authorities that either issue or hold debt, and identified seven possible opportunities for refinancing of $2.4 billion in outstanding bonds which could potentially reduce costs by as much as $179.5 million. This report represents the first modern, comprehensive review of the full scope of debt held by Commonwealth authorities and related entities.