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Amid $41B shortfall, state teachers’ pension cites private equity as biggest drag

Pennsylvania's public-school employees' pension fund is $41 billion short of what it needs to pay promised benefits. Last year, it missed the investment benchmark that officials set, a result they said was "primarily due to performance within private equity." As of Dec. 31, Pennsylvania’s Public School Employees’ Retirement System held $85.3 billion in assets, making it one of the nation's largest public pension funds. PSERS invested $10.1 billion in private equity with a goal of earning a 10.06% return. It returned just 2.59%. According to PSERS, private equity reduced the fund's ...

Harrisburg leaders miss budget deadline for fifth year

For the fifth year in a row, state leaders have failed to meet the June 30 deadline for finishing an annual budget - a situation that will have little practical effect in the short term but raises the ugly specter of last year's 135-day impasse. In 2025, even though political leaders spoke in late June and early July of being "close" to a deal, none was reached until November. Billions of dollars in state payments were withheld, counties lost millions of dollars, programs were cut and employees were furloughed. Chances for making the deadline this year ended before 3 p.m. ...

Charges withdrawn in felony robbery

All charges against a Warren woman who had been jailed in April have been withdrawn. Cindy C. Corbett, 45, of Warren was charged with third-degree felony robbery – taking property, misdemeanor theft by unlawful taking, defiant trespass – actual communication, receiving stolen property and harassment by the State Police at Warren. Corbett was arraigned by Magisterial District Court Judge Raymond Zydonik on Friday, with Zydonik setting bail at $25,000. Corbett was taken to the Warren County Jail until she could post bail. A preliminary hearing was scheduled for May 6. Online court ...

On the record

C. WARREN COUNTY – DISTRICT JUDGE RAYMOND ZYDONIK Public drunkenness. Mindi Comiskey, 40, of Warren was charged with public drunkenness and similar misconduct June 30 by Warren City Police after an alleged incident June 18 in Warren. Harassment. Keith R. Ludwig, 36, of Warren was charged with harassment - subject other to physical contact June 25 by Warren City Police after an alleged incident June 18 in Warren. Possession of a controlled substance. Frederick J. Glotz Jr., 57, of Warren was charged with intentional possession of a controlled substance by a person not ...

Judge allows more time in murder appeal

A Warren County judge has granted an additional 30 days for an appellate brief to be filed in the post-conviction case of Juston K. Moore after his attorney missed a filing deadline. Moore, who is serving a mandatory life sentence without parole for the 2022 killing of his grandmother, ...

‘Extra-special’ holiday

United Refining Co. is proud to continue their long tradition as the Grand Sponsor of Warren’s Fourth of July parade and celebration. URC increased their contribution this year in order to add to the fireworks display. “Supporting this community is part of who we are, and we’re ...