News Releases - May 2018


Tobash and Torsella to Lead Public Pension Management and Asset Investment Review Commission

Harrisburg, PA – State Representative Mike Tobash, Chair, and Pennsylvania Treasurer Joe Torsella, Vice-Chair, of the Public Pension Management and Asset Investment Review Commission (PPMAIRC) today conducted an organizational meeting to initiate a review of the Public School Employees’ Retirement System (PSERS) and the Pennsylvania State Employees’ Retirement System (SERS).


Treasurer Torsella Searching For Over 500 Military Medal Owners

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced that he is seeking the rightful owners of more than 500 military medals that are due to Pennsylvania’s veterans and their families. The medals have been in Treasury’s possession, some for many years, after being reported to the department as unclaimed property, in accordance with Pennsylvania law. As part of an ongoing initiative established by Treasurer Torsella, seven “lost” war medals, including three Purple Hearts, have recently been returned to their rightful owners: military veterans or their families.



Treasurer Torsella Announces Expansion of Lower-Cost Passive Investment Strategy

Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today announced that he is expanding Treasury’s passive investment strategy to include the publicly-traded fixed income portfolio, following through on his pledge to protect taxpayer money by saving on Wall Street fees. The move – when combined with an earlier shift in Treasury’s equity portfolio – will save nearly $9 million per year in fees, totaling approximately $300 million when compounded over 20 years. The move also takes a further step to change the pay-to-play culture that has plagued the Commonwealth.


Treasurer Torsella Launches Keystone Scholars Program at Luzerne County Head Start

Wilkes-Barre, PA – Pennsylvania Treasurer Joe Torsella today was joined at Luzerne County Head Start by key county partners including Sen. John R. Gordner, Senate Majority Whip, Sen. Lisa Baker, Sen. John Yudichak, Rep. Eddie Day Pashinski, Rep. Tarah Toohil, staff from the office of Rep. Aaron Kaufer, County Manager Dave Pedri, and Lynn Evans Biga, Executive Director of Head Start Luzerne County, to highlight treasury’s new scholarship grant program, Keystone Scholars.


Treasurer Torsella Launches Keystone Scholars Program in Elk County with Visit to St. Marys Carbon Manufacturing Facility

St. Marys, PA – Pennsylvania Treasurer Joe Torsella today was joined by key county partners including Senator Joe Scarnati, president pro tempore, a representative from Representative Matt Gabler’s office, Chairperson of the Elk County Board of Commissioners Matthew G. Quesenberry, Sr., and event host and St. Marys Carbon General Manager and Chief Operating Officer, James Slay, to highlight Treasury’s new scholarship grant program, Keystone Scholars.