Daily News | Will Gov. Shapiro do to Pennsylvania’s pension billions what he did in Montco?
But simple comparisons can be treacherous, as people whose results look bad are fond of reminding us.
These numbers don’t tell the whole story: In down markets, private investments are revalued more slowly than publicly traded stocks and bonds. Since PSERS invested more heavily in private assets than other plans, it gets the benefit ofBut that works both ways: As PSERS staff have warned trustees, private-asset devaluations could reduce results in future quarters.
PSERS trustees are now searching for new leaders and have voted to reduce reliance on private investments, though some of the union members on the board have said they believe the stock market’s dive vindicated the former management.
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