FInance prof says PA's public pensions are paying higher equity fees than reported

09.21.18 | Terry Diener

A Professor from the University of Oxford delivered testimony to a panel created by a 2017 state law to recommend ways to lower those fees. He says the systems reported paying $2.2 billion over the last 10 years. He estimates they actually paid $6 billion, but says the systems aren’t divulging documents that would help him compute a more accurate number.