In December, the Pennsylvania Public School Employees’ Retirement System (PSERS) kept employee contribution rates flat based on the slimmest of margins in its investment returns. Those calculations may have been wrong. That error, which may have cost taxpayers more than $25 million in contributions, is now the subject of an investigation announced Friday night by the pension system that represents more than 250,000 current and retired public school employees.
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Source: PennLive, March 13, 2021.