Pennsylvania’s $64 Billion School Pension Faces Federal Probe

April 7, 2021, 11:20 PM

Pennsylvania’s biggest pension is facing a federal probe and has hired lawyers to help with the inquiry, just weeks after the $64 billion plan launched an internal investigation into misstated investment performance.

The Pennsylvania Public School Employees’ Retirement System, a fund for teachers and other full-time staff, hired Pillsbury Winthrop Shaw Pittman, according to a notice on its website Tuesday. The pension did not disclose the reason for the probe but said the law firm would “represent and provide guidance to the board in matters relating to a federal investigation and any collateral issues.”

Evelyn Williams, a spokesperson for...

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