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Photo Credit Penn Live

Treasurer Torsella Announces Fourth Request to Draw $600 Million from Line of Credit

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced that Treasury has received a request from the Governor’s Office of the Budget to draw $600 million from the $1.8 billion line of credit authorized on October 27th. This is the fourth request Treasury has received to draw down funds since the authorization. Treasury is charging a variable rate on all funds drawn, equal to the SiFMA Municipal Swap Index, which is currently 1.11 percent.

Photo Credit Penn Live

Treasurer Torsella Praises PSERS Board for Adopting Cost Saving and Supplemental Retirement Resolutions

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today praised the Public School Employees’ Retirement System (PSERS) for adopting a series of resolutions that seek to reduce investment fees paid to external managers; identify operational savings for the Commonwealth’s two largest pension systems; and enhance supplemental retirement savings opportunities for public school employees.