In the state
Pension systems’ costs are higher
HARRISBURG (AP) — Private equity costs paid by Pennsylvania’s two large public pension systems are getting more scrutiny.
Professor Ludovic Phalippou of the University of Oxford told a state panel seeking ways to lower those fees Thursday that he estimates the systems paid $6 billion over 10 years, including a profit-sharing expense called carried interest.
Phalippou says the systems reported paying $2.2 billion, but won’t divulge documents that would help him compute a more accurate number.
The Public School Employees’ Retirement System says it’s cooperating with requests for documents. Both it and the State Employees’ Retirement System say they are working to expand their reporting of what they pay to private equity managers.
First county buys new voting machines
HARRISBURG (AP) — Susquehanna County is the first Pennsylvania county to buy a voting system under new security standards by Gov. Tom Wolf’s administration.
State and county officials said Thursday the new optical scan system will be in use for the Nov. 6 general election.
Wolf earlier this year ordered counties to replace their electronic voting systems with machines that leave a paper trail as a safeguard against hacking.
Counties have warned that the price tag is a major problem. But Wolf’s administration says many other counties appear likely to implement new systems in 2019, while some may wait until the 2020 primary.
Wolf’s order followed last year’s disclosure by the federal government that election systems in at least 21 states, including Pennsylvania, were targeted by hackers before the 2016 presidential election.
Copyright 2018 The Associated Press.