PITTSBURGH (KDKA) — Millions of dollars from Pennsylvania public school pension funds are tied up and invested in Russian investments, and this discovery has prompted local teachers to call for immediate action.
The news came as a shock to many of them, so the Public School Employment Retirement System will be holding an emergency board meeting today to discuss these investments.
Recently, teachers and employees of public schools learned that millions of their pension funds were invested not only in Russia but also in Belarus.
Every paycheck received by public school teachers and employees is used to fund their retirement plans. At the same time, taxpayers also contribute to this fund through their school boards.
With Russia invading Ukraine, teachers say they don’t need to know much about the Russian economy to want their investments to be transferred out of the country.
“We are angry about what is happening to the people of Ukraine. It’s a travesty. And to hear that a penny of our money is being invested in Russia is really very disturbing. We had absolutely no idea,” said Nina Esposito-Visgitis, president of the Pittsburgh Federation of Teachers.
The money invested in Russia is a small part of the fund’s overall investment scheme.
At 16:00 there will be a meeting to discuss investments in Russia
https://pittsburgh.cbslocal.com/2022/03/03/pennsylvania-school-pension-board-to-discuss-russian-assets/ Pennsylvania School Pension Board to Discuss Russian Assets – CBS Pittsburgh
