A resolution calling for a vote for new leadership at the $64.2 billion Pennsylvania Public School Employees' Retirement System, Harrisburg, was withdrawn.
Six members of the state pension plan's board sent a letter Thursday to all 15 PennPSERS board members announcing their intention "to conduct a no confidence and termination vote" against Executive Director Glen R. Grell and CIO James H. Grossman Jr. at Friday's board meeting.
No reason was given for why the request was withdrawn.
Although the vote was not held, state Sen. Katie Muth, who was one of the six board members who signed the letter calling for the vote, said at the meeting that although the specific resolution was withdrawn, she still believes problems persist with how the pension plan is managed.
"It's not just me that's uncomfortable with the current situation that we're in right now," Ms. Muth said. "There are problems here that have not been solved. The leadership discussion needs to be continued in a very aggressive manner."
Ms. Muth filed suit Tuesday against PennPSERS seeking documents and information, disclosing how the plan is managed and selects its investments.
