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HARRISBURG, PA (June 21, 2022) – Rich Askey, president of the Pennsylvania State Education Association, today commended the Public School Employees’ Retirement System (PSERS) for posting strong investment returns during the quarter ending March 31, 2022, ranking first among a 65-fund public retirement plan peer group.
“PSERS has again announced strong investment returns for the quarter that ended on March 31, the fiscal year-to-date, and the calendar year.” Askey said. “This is a credit to PSERS’ investment strategies and the diversity of its portfolio.
“Most important of all, these returns can give confidence to the more than 500,000 active and retired PSERS members who rely on the fund’s investment returns to provide for their retirement security.”
On June 17, PSERS announced that: “PSERS preliminary net investment return for the quarter ended March 31, 2022, was first among the 65-fund public plan peer group of all plans greater than $1 billion tracked by the Board of Trustees’ investment consulting firm, Aon. PSERS preliminary net returns also carried one of the lowest investment risk profiles among pension plans tracked by Aon which further protected assets.”
“Over three years, PSERS is in the top 11% of all funds with more than $1 billion in assets, and over five years, PSERS is in the top 17% of funds with that level of assets,” Askey said. “PSERS’ returns have consistently outperformed similar funds even though PSERS takes a low-risk investment approach.”
Askey is the president of PSEA. An affiliate of the National Education Association, PSEA represents about 178,000 active and retired educators and school employees, student teachers, higher education staff, and health care workers in Pennsylvania.
