No action was done regarding the letters demands at a meeting Thursday, but the meeting is set to continue tomorrow. All the transactions were recommended to the board by the pensions investment staff... 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for votes by the investment committee of the $64 billion Pennsylvania Public School Employees Retirement System were withdrawn. 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.
Hands over private investments have worked to create increased cost for the officially retired state pension fund.
( z0 work :ARG0 ( z1 hand-over :ARG1 ( z2 invest :ARG1-of ( z3 private ) ) ) :ARG1 ( z4 create :ARG0 z1 :ARG1 ( z5 cost :ARG1 ( z6 fund :ARG0-of ( z7 retire :mod ( z8 official ) ) :mod ( z9 pension ) :mod ( z10 state ) ) :ARG1-of ( z11 increase ) ) ) )
(z0 / work-01
    :ARG0 (z1 / hand-over-02
              :ARG1 (z2 / invest-01
                        :ARG1-of (z3 / private-03)))
    :ARG1 (z4 / create-01
              :ARG0 z1
              :ARG1 (z5 / cost-01
                        :ARG1 (z6 / fund
                                  :ARG0-of (z7 / retire-01
                                               :mod (z8 / official))
                                  :mod (z9 / pension)
                                  :mod (z10 / state))
                        :ARG1-of (z11 / increase-01))))
Hands over private investments have worked to create increased cost for the officially retired state pension fund .
z2 :ARG1-of z3
z1 :ARG1 z2
z0 :ARG0 z1
z0 :ARG1 z4
z4 :ARG0 z1
z5 :ARG1-of z11
z4 :ARG1 z5
z7 :mod z8
z6 :mod z9
z6 :mod z10
z6 :ARG0-of z7
z5 :ARG1 z6