No action was done regarding the letters demands at a meeting Thursday, but the meeting is set to continue tomorrow. The demand for the dismissal of Glen Grell, the executive director, and Jim Grossman, the chief investment officer of Pennsylvanias $64 billion Public School Employees Retirement System, came hours before a scheduled meeting of the board Thursday, which both officials would normally attend. Trustees of Pennsylvanias largest public pension on Friday backed off from voting on almost $1.1 billion in new fund commitments amid disagreement over the systems leadership and its use of high-cost private investments. Six trustees of the largest public pension in Pennsylvania are demanding the ouster of two top staff members, citing years of poor investment performance, high expenses and missteps that led to a federal investigation. While one investment was approved in a public session, another five that had been scheduled for votes by the investment committee of the $64 billion Pennsylvania Public School Employees Retirement System were withdrawn.
Seven of the fifteen votes on almost $1.1 billion in new fund commitments are in excess of $60 billion.
( z0 in-excess-of :domain ( z1 vote :quant 7 :ARG1-of ( z2 include :ARG2 ( z3 vote :quant 15 :ARG1 ( z4 commit :ARG1 ( z5 almost :op ( z6 monetary-quantity :quant 1500000000 :unit ( z7 dollar ) ) ) :ARG1-of ( z8 new ) :ARG2 ( z9 fund ) ) ) ) ) :op ( z10 monetary-quantity :quant 60000000000 :unit ( z11 dollar ) ) )
(z0 / in-excess-of
    :domain (z1 / vote-01
                :quant 7
                :ARG1-of (z2 / include-91
                             :ARG2 (z3 / vote-01
                                       :quant 15
                                       :ARG1 (z4 / commit-01
                                                 :ARG1 (z5 / almost
                                                           :op1 (z6 / monetary-quantity
                                                                    :quant 1500000000
                                                                    :unit (z7 / dollar)))
                                                 :ARG1-of (z8 / new-01)
                                                 :ARG2 (z9 / fund)))))
    :op1 (z10 / monetary-quantity
              :quant 60000000000
              :unit (z11 / dollar)))
Seven of the fifteen votes on almost $ 1.1 billion in new fund commitments are in excess of $60 billion .
z1 :ARG1-of z2
z1 :quant 3
z3 :quant 0
z2 :ARG2 z3
z5 :op1 z6
z6 :unit z7
z6 :quant 1
z4 :ARG2 z9
z4 :ARG1-of z8
z4 :ARG1 z5
z3 :ARG1 z4
z0 :domain z1
z0 :op1 z10
z10 :unit z11
z10 :quant 2