Treasurer McCord Calls on Governor Corbett to Replace SERS Chairman

Allegations against chief investment officer, ongoing management issues make change necessary.Harrisburg – State Treasurer Rob McCord, a board member of the State Employees Retirement System (SERS) by virtue of his elected office, today wrote to Governor Tom Corbett, urging the replacement of SERS chairman Nicholas Maiale. The chairman of the SERS board is appointed by the governor from among the 11 board members. It oversees more than $25 billion in state worker pension funds. McCord said that recent charges of improper conduct by the SERS chief investment officer, as well as overall