Joseph N. DiStefano

Stories by Joseph N. DiStefano

Glen Grell, the former executive director of PSERSs, listens during a board session last year at the fund's offices in Harrisburg.

Big PSERS report gives new details on top staff’s actions

by Joseph N. DiStefano, Craig R. McCoy and Angela Couloumbis of Spotlight PA

Feb. 1, 2022

PSERS brought in legal assistance as it learned that federal investigators had subpoenaed information about the board’s adoption of a false, unduly high figure for investment returns.

Key consultant refused to cooperate with probe into Pa.’s $73 billion school pension: sources

by Angela Couloumbis of Spotlight PA and Joseph N. DiStefano and Craig R. McCoy of The Inquirer

Jan. 31, 2022

Federal agencies have been looking into PSERS' adoption of an exaggerated number for investment profits as well as the fund’s purchase of real estate near its Harrisburg offices.

Pa. pension fund says it won’t require board to sign secrecy oaths to hear key report

by Angela Couloumbis of Spotlight PA and Joseph N. DiStefano and Craig R. McCoy of The Inquirer

Jan. 27, 2022

News Archive for Spotlight PA

PSERS Board Chair Chris Santa Maria cited “advice from outside counsel” in asking board members and anyone else attending an upcoming meeting to sign non-disclosure agreements.

Board members of Pa.’s largest pension fund asked to sign secrecy oaths

by Angela Couloumbis of Spotlight PA and Joseph N. DiStefano of The Inquirer

Jan. 21, 2022

With no explanation and after a meeting closed to the public and media, the PSERS board said that executive director Glen Grell is retiring.

2 top executives quit giant Pa. pension fund amid FBI, SEC probes

by Angela Couloumbis of Spotlight PA and Joseph N. DiStefano and Craig R. McCoy of The Philadelphia Inquirer

Nov. 18, 2021

PSERS — the Public School Employees’ Retirement System — admitted in March that it had botched its crucial official calculation of investment returns.

A massive probe of Pa.’s largest pension fund is nearly done, but taxpayers may never know the results

by Angela Couloumbis of Spotlight PA and Craig R. McCoy and Joseph N. DiStefano of The Philadelphia Inquirer

Nov. 9, 2021

The FBI and federal prosecutors launched a criminal probe of the PSERS plan in March after the fund’s board revealed doubts about the figure it endorsed for financial results in December.

Here’s how Pa.’s school pension fund keeps its communications secret from the public

by Angela Couloumbis of Spotlight PA and Craig R. McCoy and Joseph N. DiStefano of The Philadelphia Inquirer

Oct. 22, 2021

The panel’s chair, teacher Christopher Santa Maria, and board member Frank Ryan (seen here), a Republican state representative from Lebanon County, have also told board members they were considering asking for an investigation into the disclosures, according to people familiar with the matter.

Pa. school pension fund leaders seek to gag board members over leaks to media

by Angela Couloumbis of Spotlight PA and Joseph N. DiStefano and Craig R. McCoy of The Philadelphia Inquirer

Oct. 4, 2021

The SEC’s new 30-page subpoena comes six months after the U.S. Attorney’s office in Philadelphia and the FBI opened a criminal investigation into possible bribery linked to exaggerated investment returns and Harrisburg land deals at the Public School Employees' Retirement System.

SEC’s probe of Pa. school pension fund examines staff gifts and trips from Wall Street firms

by Angela Couloumbis of Spotlight PA, Joseph N. DiStefano of The Philadelphia Inquirer and Craig R. McCoy of The Philadelphia Inquirer

Sept. 30, 2021

PSERS — the Public School Employees' Retirement System — is one of the largest such plans in the nation. It has been under federal investigation for months.

Embattled Pa. teacher pension fund subpoenaed by SEC over ‘compensation and gifts’ to staff

by Angela Couloumbis of Spotlight PA, and Craig R. McCoy and Joseph N. DiStefano of The Philadelphia Inquirer

Sept. 25, 2021

Some trustees of the Pennsylvania public school pension system, PSERS, pose with executive director Glen Grell (right) at the $60 billion-asset agency's Harrisburg office tower in 2020. Chairman Chris Santa Maria, a Harriton High School social studies teacher, is at center.

Six of 15 board members of embattled Pa. pension fund officially call for removal of its top command

by Angela Couloumbis of Spotlight PA and Craig R. McCoy and Joseph N. DiStefano of The Philadelphia Inquirer

June 10, 2021

The proposed ouster comes after federal prosecutors and the FBI launched an investigation in the spring into the $64 billion fund — the Public School Employees’ Retirement System — which sends $6 billion annually to retirees.

In a revolt, dissidents on PSERS board lobby colleagues to fire the fund’s leaders and set a new investment strategy

by Angela Couloumbis of Spotlight PA and Craig R. McCoy and Joseph N. DiStefano of The Philadelphia Inquirer

June 9, 2021

Under FBI investigation, Pennsylvania's $64 billion public school pension fund sought to backtrack on previous disclosures that staffers were working on both sides of real estate dealings.

Facing FBI probe, PSERS backtracks on disclosure that staffers were on both sides of real estate dealings

by Angela Couloumbis of Spotlight PA and Craig R. McCoy and Joseph N. DiStefano of The Philadelphia Inquirer

June 8, 2021

The headaches for PSERS — the Public School Employees’ Retirement System — began this spring when its board admitted endorsing a bad number for its investment profits.

Internal PSERS documents show how Pa’s biggest pension fund got key financial calculation wrong

by Angela Couloumbis of Spotlight PA, Joseph N. DiStefano of The Philadelphia Inquirer, and Craig R. McCoy of The Philadelphia Inquirer

May 30, 2021

Federal authorities are demanding records concerning a series of Harrisburg buildings and lots bought by PSERS, including the former Patriot-News building at 812 Market St., shown here after demolition.

FBI probe of massive Pa. pension fund seeks evidence of kickbacks or bribery

by Angela Couloumbis of Spotlight PA, and Joseph N. DiStefano and Craig R. McCoy of The Philadelphia Inquirer

May 16, 2021