4/21/2021 Updated Statement from PSERS

On Tuesday, April 20, 2021, the PSERS Audit/Compliance Committee authorized PSERS staff to seek to engage with Verus Investments to provide interim investment oversight consulting services to the Board during the pendency of the internal and government investigations.  Audit Committee Chair Frank Ryan observed  that, "The purpose of the contract is to provide additional advisory capability as we navigate additional work as a result of the special investigation that the Audit Committee is overseeing. It is important to note that no personnel changes have been made whatsoever at PSERS.   In exercising our fiduciary duty, we are always guided solely by what is in the best interests of the members and beneficiaries of PSERS. This action will support those efforts."