The U.S. Division of Justice has closed its investigation of the $72.5 billion Pennsylvania Public Faculty Workers’ Retirement System, Harrisburg, associated to errors in funding reporting.

Christopher Santa Maria, chairman of the board of trustees, introduced in an emailed assertion that he had been knowledgeable by the DOJ that the investigation has been closed.

“We perceive from the closure of the investigation that DOJ won’t be pursuing civil or legal fees,” Mr. Santa Maria stated. He stated the pension plan has no additional remark as an SEC investigation continues to be ongoing.

DOJ representatives couldn’t be instantly reached for remark.

The DOJ investigation stemmed partly from PennPSERS workers discovering in 2020 that funding reporting figures for April 2015 that have been used for an annual employer contribution fee improve contained a calculation error.

After the board was notified of the error, it commissioned in March 2021 a report from legislation agency Womble Bond Dickinson to help the retirement system’s chief counsel in investigating potential litigation from the risk-share calculation error.

The report, launched in January, discovered no proof of legal conduct.

In response to the report, normal funding guide Aon Investments USA took accountability for the error, which concerned incorrect public markets funding returns in April 2015 that was solely found by PennPSERS workers in 2020 following Aon’s launch of nine-year funding return knowledge.

“Within the strategy of reconciling some prior yr asset class composites … Aon has turn into conscious of information corruption. … This knowledge corruption impacted a number of asset class composites within the public markets,” Womble Bond’s report stated.

Matt D. Basil, accomplice at Willkie Farr & Gallagher, counsel for Aon, stated in January that Aon disagrees with the findings of the report. In response to the Womble Bond report, Aon wouldn’t conform to an interview for the report however supplied solutions to submitted questions.

Aon spokesman Robert Elfinger declined to remark, citing pending litigation.