The Senate Finance Committee will hold a public hearing on Wednesday, October 18, to review fund management fees paid by the state’s two employee retirement systems, according to Committee Chairman Scott Hutchinson.
The hearing is set for 10 a.m. in Room 8E-A in the East Wing of the State Capitol Complex, Harrisburg.
“The burden posed by ever-increasing public pension system costs have played havoc with the state budget and the budgets of school districts across the state,” said Senator Hutchinson. “This has raised interest in the fund management fees being paid by SERS (State Employee Retirement System) and PSERS (Pennsylvania School Employees Retirement System) and whether they are receiving any substantive benefit from the investment strategies they are receiving for that money.”
State Auditor General Eugene DePasquale, PSERS Executive Director Glen Grell and SERS Chairman David Fillman are scheduled to testify at the hearing.