News Releases - October 2020

Treasurer Torsella Announces PA ABLE Surpasses $35 Million Asset Milestone

Assets increased by more than $16 million in past year

Harrisburg, PA - Treasurer Joe Torsella today announced that the PA ABLE Savings Program (PA ABLE) recently surpassed the $35 million asset mark, reaching more than $36.9 million. In the last calendar year, PA ABLE assets have grown by more than $16 million and gained 1,162 accounts with 4,001 total open accounts.

Treasurer Torsella Announces First-Ever Morningstar Silver RatingTM For PA 529 Investment Plan

New upgraded rating puts PA 529 Investment Plan in elite group of “Best in Class” 529 plans

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella announced today that the PA 529 College and Career Savings Program Investment Plan (IP) has received a rare Morningstar Silver RatingTM as part of Morningstar’s review of the Top 529 College Savings Plans of 2020. This is the IP’s second upgrade in two years after last year’s Morningstar Bronze RatingTM. Nationwide, only fourteen plans rated as Silver (11) or Gold (3).

Treasurer Torsella And Senator Yudichak Call For PA Skills Compact

Yudichak to introduce legislation to enact PA Skills Compact, providing two years of tuition-free training for every Pennsylvanian

Harrisburg, PA - Pennsylvania Treasurer Joe Torsella along with Senator John Yudichak today announced the beginning of legislative efforts to implement the Pennsylvania Skills Compact—a two-year, tuition-free higher education program to expand opportunity for every Pennsylvanian. The two years of training could be used to attain associate’s degrees, technical certifications and other professional and occupational credentials, as detailed in Treasury’s August newsletter.

Treasurer Torsella To Establish Keystone Green Bank

In partnership with DEP, $12.5 million will be available to support clean energy investment

Harrisburg, PA - Treasurer Torsella today announced the establishment of the Keystone Green Bank Partnership (Keystone Green), in coordination with the Department of Environmental Protection. Keystone Green will provide attractive financing to projects that support clean and alternative energy sources, non-fossil fuel transportation, and other similar projects.

Treasurer Torsella Commends Sers For Strides In Transparency

Pension fund to report carried interest paid to managers and staff travel expenses

Harrisburg, PA - State Treasurer Joe Torsella today issued the following statement, after unanimous votes by the State Employees’ Retirement System (SERS) to report carried interest paid by the fund per manager, and to disclose travel expenses incurred by SERS staff. These moves come soon after the system voted to live stream all board meetings to the public, beginning in December.