New chairman tapped for Pa. state pension fund

Written by The Associated Press | Jan 16, 2014 4:12 AM

(Harrisburg) -- Gov. Corbett is naming the president of a Philadelphia investment advisory group to become the new chairman of Pennsylvania's $26.5 billion state employee pension system.

Corbett announced his appointment Wednesday of the Swarthmore Group's Glenn Becker to chair the State Employees' Retirement System.

In a statement, Corbett didn't mention Becker's predecessor, Nicholas Maiale, who wasn't reappointed by Corbett amid allegations of possible misconduct by the agency's former chief investment officer, Anthony Clark.

Clark hasn't been charged with any crime.

Corbett says he's confident in Becker's abilities to lead the system and that Becker has a record of accomplishment in developing strong fiscal plans. The Swarthmore Group says it manages about $1.5 billion in institutional assets.

Becker chairs a non-profit organization that raises money for local charities.

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