Pa. officials outraged over multimillion-dollar ‘error’ by teachers pension managers



Uri Monson, the chief financial officer of the Philadelphia School District, the state’s largest, in a social media posting called for “an independent investigation” by State Attorney General Josh Shapiro or newly elected Auditor General Timothy DeFoor.

“If there is any evidence of board members or anyone else directing staff to create a false report,” Monson said, “they should be fired and charged with Honest Services Fraud.”

In a reform imposed by the legislature and governor, the fund adopted a so-called risk-sharing rule some years ago that requires education workers to pay extra if their pension fund falls short of its investment target.

Author(s): Joseph N. DiStefano

Publication Date: 16 March 2021

Publication Site: Philadelphia Inquirer