Pennsylvania Public School Employees' Retirement System and the Pennsylvania State Employees' Retirement System, both of Harrisburg, each authorized their executive directors to sign an agreement with Auditor General Jack Wagner to allow an audit of their investment performance, according to Evelyn Tatkovski, spokeswoman for the $47.8 billion PSERS and Robert Gentzel, spokesman for the $26.2 billion SERS. Neither fund has yet entered into a final agreement authorizing the audit, however.
The resolutions are the result of a legal dispute between the two systems and the auditor general. Mr. Wagner's predecessor pressed for the audits in 2003 because of investment losses sustained during the bear market.
