State Senator Katie Muth, responded Friday (June 18) on her website to PSERS (Public School Employees’ Retirement System) Board Chairman Christopher Santa Maria and Rep. Frank Ryan, chair of the Board’s Audit and Compliance Committee.
Muth, a member of the PSERS board, is suing her fellow board members. The Pittsbugh Post Gazette wrote on June 9 –
State Sen. Katie Muth sued the Pennsylvania Public Employees’ Retirement System on Tuesday seeking financial records she says the embattled $64 billion pension fund refused to turn over to her.
Muth, a Montgomery County Democrat who joined the PSERS board earlier this year, said her requests for information were met with claims that such materials could not be released due to the ongoing FBI and internal investigations.
Likewise, she said the board has repeatedly been asked to vote on major issues and investments on relatively short notice without access to all the supporting documents.
“If you don’t have anything to hide, why wouldn’t you want to share information?” Muth said in a phone interview Tuesday. “How can I uphold my fiduciary duty if I don’t have this information?”
FBI Probe
Spotlight.com reported on May 16 that –
Federal prosecutors investigating Pennsylvania’s $64 billion public school pension fund are looking for evidence of kickbacks or bribery as they explore why the plan exaggerated investment returns and spent millions to amass real estate in Harrisburg.
Subpoenas reviewed by Spotlight PA and The Philadelphia Inquirer demand information from the fund itself, its executive director, and at least three other senior executives. The documents lay bare the scope of the probe and reveal that prosecutors and the FBI are investigating possible “honest services” fraud and wire fraud.
Muth is a Democrat and represents the 44th Senatorial District, which includes parts of Montgomery, Chester Counties.