Aon plc settles dispute with Pennsylvania pension fund, WSJ reports

Pennsylvania Public School Employees’ Retirement System, or Psers, which manages ~$73B for Pennsylvania’s teachers, has agreed to settle its lawsuit with consulting firm Aon (AON) in exchange for a $7M lump-sum payment, according to the Wall Street Journal’s Chris Cumming, citing records from Psers board meeting. Psers alleged that in 2020, Aon “made an error in calculating long-term returns from its funds” which resulted in inaccurate results in how much its beneficiaries needed to contribute to cover their future benefits. Aon had previously denied the allegations, and an Aon spokesman declined to comment on the settlement.