HARRISBURG, PA – The Pennsylvania Public School Employees’ Retirement System (PSERS) reported today total fund performance of 8.14% for the fiscal year ending June 30, 2024.
The fund’s performance surpassed the Board of Trustees’ investment policy benchmark composite by 107 basis points. Between July 1, 2023, and June 30, 2024, the market value of PSERS’ assets rose by $2.9 billion to about $75.2 billion.
“The one-year net results continue to be reassuring,” PSERS Chief Investment Officer Ben Cotton stated, adding that “there is a lot of work that still needs to be done as the fund begins a routine 3-year reassessment of its strategic asset allocation this fall.”
Other performance data points measured for the June 30, 2024, reporting time frame were: 1.49% for the quarter; 4.61% for 3 years; 7.60% for 5 years; 6.82% for 10 years; 8.54% for 15 years; and 7.05% for 20 years. PSERS’ current long-term actuarial assumed rate of return rate is 7.00%.
The full report is available online on PSERS’ website.
###
About the Pennsylvania Public School Employees' Retirement System
PSERS, founded in 1917, began operations in 1919 to oversee a statewide defined benefit pension plan for public school employees. PSERS' role expanded upon the passage of Act 5 of 2017 to include oversight of two new benefit options consisting of defined benefit and defined contribution (DC) components and a stand-alone DC plan. As of June 30, 2024, PSERS had unaudited total net assets of $75.2 billion and a membership of about 251,000 active, 250,000 retired school employees, and 27,000 vested inactive members.