News Releases - October 2019


Treasurer Torsella and Legislators Meet to Discuss Details of Keystone Saves Auto-IRA Proposal

Proposed legislation could help 2.1 million working Pennsylvanians save for retirement

Allentown, PA - Treasurer Joe Torsella, along with State Representatives Michael Driscoll and Michael Peifer and Senator Art Haywood met with stakeholders today in Allentown to discuss the new bipartisan Keystone Saves proposal that would enact a state-facilitated, privately-administered auto-IRA program.



PA 529 College and Career Savings Program Receives First-Ever Morningstar Medal

The PA 529 Investment Plan awarded bronze rating, among nation’s 30 “Best in Class” plans

Harrisburg, PA - Pennsylvania State Treasurer Joe Torsella today announced that the PA 529 College and Career Savings Program Investment Plan (IP) has received, for the first time in its history, a Morningstar Bronze RatingTM in its review of Top 529 College Savings Plans for 2019.   The ranking puts the Pennsylvania plan among an elite group of 30 “Best in Class” plans, less than half of all the plans rated by Morningstar.



Treasurer Torsella Launches Phase Six of the Treasury Transparency Portal

Contracts e-Library now housed on the Transparency Portal, new Treasury Checkbook featured

Harrisburg, PA - Pennsylvania State Treasurer Joe Torsella today announced expanded capabilities of the Treasury Transparency Portal by launching Phase 6. The portal now houses the Contracts e-Library and includes a total contract count for each agency by fiscal year. Users can also track Treasury Department payments, at the check-level, using the new Treasury Checkbook.



PA 529 Guaranteed Savings Plan Exceeds Targets, Lowers Future Assumed Rate of Return to Reduce Risk

Fund returns 6.45% in fiscal year 2018-2019, exceeding 6% assumed rate, Treasury to lower assumed rate moving forward to 5.5%

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella announced today that the PA 529 College and Career Savings Program Guaranteed Savings Plan (GSP) earned an annual return rate of 6.45%, net of fees, in fiscal year 2018-2019, exceeding its assumed actuarial return rate of 6%.



Treasurer Torsella Announces Further Fee Reduction For PA 529 Investment Plan

Resulting in approximately $310,000 in savings to families across the Investment Plan

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella announced today a further reduction in fees for the PA 529 College and Career Savings Program Investment Plan (IP). This most recent reduction keeps IP fees at some of the lowest levels when compared to similar plans in other states.