Anthony S. Clark, chief investment officer of Pennsylvania State Employees' Retirement System, Harrisburg, is on personal leave pending an investigation of undisclosed allegations against him, confirmed spokeswoman Pamela Hile.
The $25.7 billion pension fund's board issued the following statement: “Just before the Thanksgiving holiday, SERS' board chairman was made aware of informal allegations related to one of SERS' senior staff.”
After the board learned of the issue, Mr. Clark “did not return to the office, no longer had access to computer files and was approved for use of personal leave while an investigation takes place.”
The board also has accepted a letter of retirement from Mr. Clark, effective Dec. 31, Ms. Hile said in an e-mail.
PennSERS' board will meet Wednesday at which time the board plans to approve the employment of an independent, third-party investigator to look into the informal allegations against Mr. Clark.
Mr. Clark became CIO of PennSERS in April 2011, replacing John Winchester, who retired from the pension fund January 2011.
Ms. Hile did not disclose any details about the allegations. Mr. Clark could not be reached for comment.