Pennsylvania State Treasurer Joe Torsella

Pennsylvania State Treasurer Joe Torsella The PA Treasury Department serves as the state's financial custodian and is committed to improving the economic security of Pennsylvania and its citizens.

Pennsylvania Treasury has established this page to provide an electronic platform to directly communicate current information related to Department functions and services -- including the Tuition Account Program (TAP), PA 529 Guaranteed Savings Program, Unclaimed Property, PA Achieving a Better Life Experience (ABLE) Accounts, payment processing and public fund management. While comments, questions and requests for information related to any Treasury posting are welcome, Treasury expressly reserves the right to remove any post or comment containing language that is: obscene, sexual, vulgar, profane, demeaning, harassing, racist, violent, threatening, defamatory, libelous or off-topic. Posts that are commercial advertisements, solicitations, suggest or encourage any illegal conduct, contain personal information, support or oppose political campaigns or candidates or disclose confidential information may also be removed at the discretion of Treasury’s page administrator. Posts are a reflection of the author and do not necessarily reflect the official views of the Pennsylvania Treasury Department or the Commonwealth of Pennsylvania. Treasury reserves the right to remove posts and/or block users from contributing to this page for violation of its policies. All Facebook Terms and Policies apply to this page. Treasury may report any user to Facebook for violations of any of its Terms and Policies in addition to removing posts or blocking users. Adopted: October 14, 2016 Effective: October 19, 2016

Operating as usual

Keystone Scholars is available for every baby born to or adopted by a PA family after December 31, 2018! A Keystone Scho...
09/21/2020
Keystone Scholars Helps Families Save for Higher Education

Keystone Scholars is available for every baby born to or adopted by a PA family after December 31, 2018!

A Keystone Scholars account can be used for qualified expenses when your child pursues higher education, including tuition, fees, books, and more at a vocational or technical school, community college, two-year college, or four-year university.

And thanks to our partner, Trying Together, for spreading the word about #KeystoneScholars to help families jumpstart their savings early for their child’s future! #CollegeSavingsMonth

For more info, visit https://www.pa529.com/keystone/.

Keystone Scholars invests $100 for every baby born or adopted in PA to be used for the baby’s future higher education expenses.

"Considering remdesivir was fast tracked by federal regulators, a bipartisan group of state treasurers is calling on Gil...
09/18/2020
Pa. Treasurer, 10 other state treasurers call on Gilead to lower price of COVID-19 drug

"Considering remdesivir was fast tracked by federal regulators, a bipartisan group of state treasurers is calling on Gilead to lower the cost of the drug, so patients across the country can afford it without going into debt." Pittsburgh City Paper

https://www.pghcitypaper.com/pittsburgh/pa-treasurer-10-other-state-treasurers-call-on-gilead-to-lower-price-of-covid-19-drug/Content?oid=18016690

In late June, pharmaceutical company Gilead set its price for remdesivir, an antiviral drug that has been shown to diminish the recovery time of patients...

“When Gilead Sciences uses a global pandemic to try to squeeze patients for thousands of dollars, something is deeply br...
09/18/2020

“When Gilead Sciences uses a global pandemic to try to squeeze patients for thousands of dollars, something is deeply broken."

We are leading a bipartisan group of state treasurers to ask Gilead to reconsider its pricing of #remdesivir, the only antiviral drug authorized by the Food and Drug Administration to treat cases of COVID-19: https://www.patreasury.gov/newsroom/archive/2020/09-17-Gilead.html

Recently, we called on drugmaker Gilead to reconsider their pricing of their fast-tracked breakthrough COVID-19 treatmen...
09/17/2020
11 state treasurers call on Gilead to reduce remdesivir pricing

Recently, we called on drugmaker Gilead to reconsider their pricing of their fast-tracked breakthrough COVID-19 treatment, Remdesivir, to make the drug more accessible for the folks who have already paid millions of dollars in taxpayer dollars to develop.

Now, we are leading a bipartisan group of 11 state treasurers, along with Ohio Treasurer, to ask Gilead to reconsider its pricing of remdesivir, the only antiviral drug authorized by the Food and Drug Administration to treat cases of COVID-19: https://abcnews.go.com/Health/11-state-treasurers-call-gilead-reduce-remdesivir-pricing/story?id=73064016

Public Citizen Social Security Works

The drug has shown promise as a treatment for novel coronavirus.

A reliance on government-imposed fines and fees is associated with unnecessary use of force and even fatalities, and nat...
09/15/2020
Torsella: How local governments raise money can impact use of police force

A reliance on government-imposed fines and fees is associated with unnecessary use of force and even fatalities, and nationally, nearly every state has increased or added criminal and civil court fees since 2008.

Why we need to end a culture and system of for-profit policing: https://www.phillytrib.com/commentary/joe-torsella-how-local-governments-raise-money-can-impact-use-of-police-force/article_87e352f1-3a79-5022-a05b-27e7c8b3c190.html

George Floyd was allegedly passing a fake $20 bill.

09/14/2020
register.gotowebinar.com

Join us, Thursday, September 17 at noon, for a free webinar providing HR Professionals with an overview of the PA 529 College and Career Savings Program and its PA 529 at Work outreach. The presentation covers the current landscape of college affordability, why a college education is important, and how employers can support employees that want to save in the same manner as a retirement account. To register, just visit https://lnkd.in/dgwdt92.

Pennsylvania Treasury is thrilled to partner with Fund My Future to create the PA Savings Pledge and offer you several i...
09/14/2020

Pennsylvania Treasury is thrilled to partner with Fund My Future to create the PA Savings Pledge and offer you several incentives to save. If you are a Pennsylvania resident, simply tell us who you are saving for and how much you will save each month, then follow through on your pledge to save, and you will be eligible to win monthly prizes.

And, if your child was born after 12/31/2018, you may be eligible for the #KeystoneScholars $100 starter deposit.

For more information, you can visit https://www.pa529.com/pasaves/.

September is College Savings Month. Take the PA Savings Pledge and start saving for your child's future now. #CollegeSavingsMonth
Visit fundmyfuturepa.org

We remember the nearly 3,000 lives lost, our heroes, who gave their lives to save strangers, and their families affected...
09/11/2020

We remember the nearly 3,000 lives lost, our heroes, who gave their lives to save strangers, and their families affected by the 9/11 attacks.

We will never forget.

9 | 11 | 2001

Nineteen years ago, we endured the worst attack on American soil since Pearl Harbor. But far from dividing and weakening us, the attacks of September 11th brought us closer and reminded us how much stronger we are when we stand together. As we reflect on that day, let’s take time to remember the many innocent lives we lost, including the hundreds of first responders who made the ultimate sacrifice so others could survive. WE WILL NEVER FORGET! Let us also remember that before anything—Democrat, Republican, Independent—we are Americans first. 🙏🏼🇺🇸

September is College Savings Month, a month dedicated to inspiring families across the country to start saving for futur...
09/10/2020

September is College Savings Month, a month dedicated to inspiring families across the country to start saving for future higher education.

Every dollar counts when it comes to paying for education, and Treasury provides $100 for every baby born to or adopted by a PA family after December 31, 2018 to be used for a child’s future post-secondary education expenses with Keystone Scholars. #SavingsForKids

To learn more, visit https://www.pa529.com/keystone/.

09/09/2020

If you are over 18 and make less than $99,000, it's likely you got an Economic Impact Payment. If you haven't seen your money, and you qualify, go to IRS.gov now and use the "Get My Payment" tool.

Help is available at 211, IRS.gov, or consumerfinance.gov.

09/08/2020
Social Security Works

"As State Treasurer, I will use every tool I have to push Gilead to do the right thing, to rise to this occasion and not to destroy long-term value in favor of short-term profits, and at the expense of our friends, our neighbors, and our families.”

A very big thank you to the collaborative efforts of Social Security Works, PrEP4All, and Public Citizen on this issue.
https://www.facebook.com/socialsecurityworks/videos/3086472744918355/

COVID MEDICATION SHORTAGE: 38 hospitals in 12 states have reported shortages of COVID19 treatment remdesivir since July. Join us as Rep. Lloyd Doggett (D-TX), doctors, and public health experts explain how the Trump Administration could end these shortages. (via act.tv)

Thank you to our workers who continue to put themselves at risk to keep us safe. Treasury wishes you a happy and safe La...
09/04/2020

Thank you to our workers who continue to put themselves at risk to keep us safe.

Treasury wishes you a happy and safe Labor Day weekend.

Why the 2020 Census matters to PA: our population count shapes our communities and determines howmuch in critical funds,...
09/04/2020
Census 2020 | PA.GOV

Why the 2020 Census matters to PA: our population count shapes our communities and determines how
much in critical funds, for things like health care resources and education, we will receive for the next decade.

The deadline to complete the 2020 Census is September 30, 2020, and there is still time to respond. People can respond online, over the phone, or by mail. For more info, visit https://www.pa.gov/census/.

Hello, Neighbor! The 2020 Census is happening now. It’s not too late to participate. To make sure your household is counted, respond online, by phone, or mail by September 30, 2020. Be a good neighbor and help us count all Pennsylvanians in the 2020 Census. Explore this site to learn more about th...

This is a really good piece by the The Philadelphia Citizen on the PA Skills Compact, which would provide up to two year...
09/03/2020
Joe Torsella has a plan to offer free college to all Pennsylvanians. Here's how it would work.

This is a really good piece by the The Philadelphia Citizen on the PA Skills Compact, which would provide up to two years of tuition-free training for all Pennsylvanians towards associate’s degrees, technical certificates or occupational credentialing.

"Some 60 percent of jobs around the country by 2025 will require post-secondary training of some sort, but only 50 percent of Pennsylvanians have a skills certification or higher. And, we lead the nation in the amount of student debt owed by residents:"

https://thephiladelphiacitizen.org/joe-torsella-free-college-plan/

Under the state treasurer’s new plan, Pennsylvania would offer tuition-free skills training and associates degrees to all residents.

09/02/2020
Baby bond proposal looks to close wealth gap

Our Deputy State Treasurer for Consumer Programs, Julie Peachey, shares how PA's #KeystoneScholars program makes it possible for every baby born to or adopted by a PA family after December 31, 2018 get a head start with $100 toward future education savings:
https://www.youtube.com/watch?v=tmOoURFNw0M&feature=youtu.be

An idea from the New Jersey state legislature would put $1,000 into an account to accrue interest until a child reaches age 18. Starting saving at birth is a...

PSERS has committed to pulling approximately $2 billion from expensive and underperforming investments, a move that come...
09/02/2020

PSERS has committed to pulling approximately $2 billion from expensive and underperforming investments, a move that comes after years of strong advocacy by the Treasurer to move away from so-called “risk parity” hedge funds and other expensive “alternative” investments, and to consider lower-cost and more transparent investment options.

https://www.patreasury.gov/newsroom/archive/2020/08-27-Fire-Wall-Street.html

"Up to 42 percent of layoffs caused by the COVID-19 pandemic will be permanent, according to Steven J. Davis, a Universi...
08/31/2020
Plan would provide two years of tuition-free training - Pennsylvania Business Report

"Up to 42 percent of layoffs caused by the COVID-19 pandemic will be permanent, according to Steven J. Davis, a University of Chicago Booth School of Business professor." Pennsylvania Business Report

We are proposing the “Pennsylvania Skills Compact,” a plan to help Pennsylvanians burdened by student loan debt, or who have found themselves forced to jobs or seek additional training, or both, to meet the needs of a post-COVID-19 job market.
https://pennbizreport.com/news/17423-plan-would-provide-two-years-of-tuition-free-training/

Pennsylvania Treasurer Joe Torsella released a plan Tuesday that would provide up to two years of tuition-free training, which could be applied toward occupational credentialing, technical certificates, or associate’s degrees. Torsella is chairman of the Pennsylvania Tuition Advisory Board and ove...

Interested in seeing up-to-date information on how Pennsylvania is faring nationally and in relation to similar states i...
08/28/2020
Pennsylvania Treasury Transparency Portal

Interested in seeing up-to-date information on how Pennsylvania is faring nationally and in relation to similar states in terms of fiscal health? We recently launched the Fiscal Health Scorecard, an online tool designed to allow Pennsylvanians to better understand the long-term drivers of the Commonwealth’s financial well-being, and you can check it out here: https://www.patreasury.gov/transparency/fiscal-health-scorecard.php

Pennsylvania Treasury Transparency Portal 2019

"Mass layoffs as a result of COVID-19 mitigation efforts have resulted in record high unemployment, and have hit workers...
08/25/2020
Treasurer Torsella Unveils Proposal for “PA Skills Compact”

"Mass layoffs as a result of COVID-19 mitigation efforts have resulted in record high unemployment, and have hit workers without postsecondary attainment harder. It is estimated that up to 42 percent of those layoffs are permanent. This will force millions of Pennsylvanians to change career course, seek additional training, or both, to meet the needs of a post-COVID-19 job market."

Today, the Treasurer unveiled the “Pennsylvania Skills Compact,” a plan to provide up to two years of tuition-free training for all Pennsylvanians towards associate’s degrees, technical certificates or occupational credentialing, by using reallocated federal recovery, economic aid, and workforce development dollars: https://www.patreasury.gov/newsroom/archive/2020/08-25-PA-Skills-Compact.html

The Pennsylvania Office of the State Treasurer serves as the custodian of more than $100 billion in Commonwealth funds, and is responsible for the receipt and deposit of state monies, investment management and oversight of all withdrawals and deposits from state agencies. Treasury also administers s...

Today we launched the Fiscal Health Scorecard, an online tool designed to allow constituents, legislators, and really an...
08/24/2020
Pennsylvania Treasury Transparency Portal

Today we launched the Fiscal Health Scorecard, an online tool designed to allow constituents, legislators, and really anyone with an interest in the fiscal health of Pennsylvania, to better understand the long-term drivers of the Commonwealth’s financial well-being. The Scorecard is part of the Treasurer’s overall initiative on transparency, which has included the Transparency Portal, where constituents can see how Pennsylvania is faring nationally and in relation to similar states. The Fiscal Health Scorecard was developed in-house at no additional cost to taxpayers, and you can find it here: https://www.patreasury.gov/transparency/fiscal-health-scorecard.php

Pennsylvania Treasury Transparency Portal 2019

If you have 10 minutes, United Way of Pennsylvania is conducting a survey to assess the impact of COVID-19 on our Common...
08/20/2020

If you have 10 minutes, United Way of Pennsylvania
is conducting a survey to assess the impact of COVID-19 on our Commonwealth, and your answers will help inform how to best support PA families throughout long-term recovery.

Responses are confidential.

Help us understand how communities across PA are being affected by the #COVID19 crisis, five months in. Your answers on this short survey are the first step to getting families the help they need. Support your neighbors, friends, and family by filling out our confidential survey today: bit.ly/UWPCOVID

(Also availble in Spanish.)

#LiveUnited #PAforALICE

A few weeks ago, we called on Remdesivir manufacturer Gilead to reconsider it's set price of $2,000-$3,000 per course of...
08/18/2020
For company behind coronavirus drug, sharp questions over pricing, potentially cheaper option

A few weeks ago, we called on Remdesivir manufacturer Gilead to reconsider it's set price of $2,000-$3,000 per course of the COVID-19 treatment, because we believe American taxpayers deserve a fair price for a drug they already paid to develop: https://abcnews.go.com/Health/company-coronavirus-drug-sharp-questions-pricing-potentially-cheaper/story?id=72329445

Executives with Gilead Sciences are now facing harsh criticism over the initial business decisions they’ve made in the midst of a pandemic.

The pharmaceutical manufacturer Gilead priced their taxpayer-funded COVID-19 recovery drug, remdesivir, at $2,000-$3,000...
08/17/2020

The pharmaceutical manufacturer Gilead priced their taxpayer-funded COVID-19 recovery drug, remdesivir, at $2,000-$3,000 per course of treatment. The Institute for Clinical and Economic Review estimates that it costs Gilead approximately $1 to produce a vial of the drug.

https://www.patreasury.gov/newsroom/archive/2020/08-05-Remdesivir.html

“We’re going through a time when the country is hurting and people are either rising to the occasion or taking advantage...
08/14/2020
For company behind coronavirus drug, sharp questions over pricing, potentially cheaper option

“We’re going through a time when the country is hurting and people are either rising to the occasion or taking advantage of it. I want to urge Gilead to put themselves in the camp of the ‘rising to the occasion’ group and rethink this pricing."

https://abcnews.go.com/Health/company-coronavirus-drug-sharp-questions-pricing-potentially-cheaper/story?id=72329445

Executives with Gilead Sciences are now facing harsh criticism over the initial business decisions they’ve made in the midst of a pandemic.

The Trump Administration recently rolled back controls on methane emissions, deregulating methane as a pollutant from oi...
08/13/2020
Treasurer Torsella: Keep E.P.A. Methane Rule In Place

The Trump Administration recently rolled back controls on methane emissions, deregulating methane as a pollutant from oil and gas operations, exempting large pipelines and storage from oversight, and weakening leak detection and repair standards for oil and gas operations.

We strongly urge the Administration to keep this important rule in place in order to create a more sustainable future for generations to come.

https://patreasury.gov/newsroom/archive/2020/08-13-Methane-Rule.html

The Pennsylvania Office of the State Treasurer serves as the custodian of more than $100 billion in Commonwealth funds, and is responsible for the receipt and deposit of state monies, investment management and oversight of all withdrawals and deposits from state agencies. Treasury also administers s...

08/11/2020
register.gotowebinar.com

August is #ABLEtoSave month, a campaign to increase awareness of and to educate folks about ABLE accounts.

Join us for a free webinar today, August 11, at 10 a.m. to learn more about the important features and benefits of PA ABLE. Topics will include eligibility requirements for opening a PA ABLE account, the federal and state tax benefits of PA ABLE, and how PA ABLE account interacts with current benefits. Register here: https://register.gotowebinar.com/register/8530954997671672079

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22 people died this month BECAUSE THE TREASURY put their funds into the US BANK US BANK STOLE THOSE FUNDS AND COUNTED IT AS PROFIT they PROFITED OFF THE DEATH OF 22 people
22 Pennsylvania citizens committed suiced this week because the TREASURY GAVE CONTROL OF THEIR FUNDS TO US BANK US BANK with held those funds and people became homeless and they KILLED THEMSELVES US BANK SHOULD BE HELD ACCOUNTABLE
why would you lock a reliacard? it as 1,200 on it but its locked. Reliacard says pa treasury locked it. Filed my claim pua claim sunday no issues and payment is being sent to reliacard thats locked. I have been calling since 9am i get on hold and then they hang up on me
My name is Carrie Lapides and I was a victim of fraudulent charges on my Us Bank Reliacard that was issued as the only way to get PUA unemployment. Its been 2 months that I've been contacting the card # on the back, faxing them 3 forms of identification including the paperwork that was mailed for investigation. It's been 2 months of being lied to, hung up on, waiting on hold for hours just for a supervisor to give me a runaround and no solution! I've filed complaints with FTC, CFPB, fraud hotline, Action news, and no response from anyone!! I am at my witts end!! I am a victim and being treated like a criminal! I haven't been able to pay my bills for 2 months, going on 3!!! The money for my bills and rent that's due on the 1st is on that card, however, Reliacard customer service and supervisors say that they cant reissue me another card or reactivate it!!! Why are they holding my $ hostage?? I've gotten no notifications at all about the investigation which I'm being told was done and they have my identification that I faxed and continue to fax everyday, so they will reactivate my card!! I call Reliacard everyday and same rude unsympathetic responses!!! I'm starving, running low on everything, all my utility bills/car insurance will not work with me after this month! Haven't been able to do ANYTHING because I cant access the thousands of dollars on MY card!!! Please, Please, Please contact me and Please assist me with something!!!! Please, I'm desperate!!!! Carrie 2672421170
Pennsylvania State Treasurer Joe Torsella I am a life-long PA resident. I have been lawfully paying taxes to the state for over 30 years. The ONE TIME I have asked for anything in return this state has failed. I received a Notice of Final Determination for unemployment benefits on 6/25 and a bank card shortly thereafter. It is now 11 weeks later and I have received NO benefits, NO payments from your department. I have called every week for the past 5 weeks, multiple times, using all the available phone numbers for both the offices of L&I and TREASURY only to get busy signals, disconnections, and cryptic messages about modified hours because of COVID-19, that voicemail messages will not be returned, and to call back during business hours when the modified business hours are not even stated. That message is from your office BTW. Emails are unanswered. So you tell me? Why should I entrust my healthcare (and other things that the democrats and even some republicans want to take over) to you or anyone else in our government, when the most basic services that I have lawfully paid for over 30 years cannot be provided? It is disgraceful and my heart breaks for those in my state who are less fortunate than I am, that have had similar experiences. My patience and consideration because of this 'unprecedented' pandemic are gone. Maybe if you took just a bit of time away from your personal twitter page bashing every single thing that Donald Trump does, you could find a few minutes to get back to me and tell me where my unemployment payments are? You had my vote the first time around. You will not get it in 2020.
Can someone please put the money I was approved for on the debit card ???? Or maybe respond to email ??? Or connect the phone
Does anyone know when we might start receiving the extra $300 or $400 (depending on whether the state can afford to pay the 25%) with our unemployment, as per the President's Executive Order. Are we even going to see this money at all?
I'm coming up on 8 weeks of missing UC payments.... where is my payments!
How can you reach a live person regarding missing pua payments? Every number including fax numbers are always busy?
Husband's name was in Towanda Daily to go in this web site as he had something in the treasury.
Treasurer Torsella, I believe the citizens of PA receiving unemployment deserve an explanation regarding the fraud related delays and confusion surrounding disbursement of unemployment funds. How is Direct Deposit less safe than mailing paper checks or mailing out a debit card ? I have not received funds for almost 2 weeks now. First funds were sent to Direct Deposit, then checks were sporadically mailed and now I am waiting on a debit card (which apparently might not arrive for another week, pushing my delay up to almost a month). Your office has handled this poorly and with very little transparency. I know of families that are several weeks behind in receiving benefits, because checks have gone missing. The phone numbers posted are always busy and emails go unanswered. Can you explain the reason for these "Fraud Concerns" and seemingly unnecessary changes to distributing the funds ? Because there is no one to ask these questions(no working phone numbers, no chats, nothing) and emails are not being answered, some families have sent dozens. Please don't plead off culpability because of the pandemic and short staffing. Your office has had months to work this out.
I was notified I was to get my payment via card not direct deposit and what did your department do? Send my payments via direct deposit!!! Where did those direct deposits go? TO A BANK THAT WAS NOT MINE!!!!! Explain to the public how exactly the statement below helped combat fraud? .......In an immediate response to widespread, multi-state fraud associated with the PUA program, and, in particular, benefits payments made by direct deposits to private bank accounts, Treasury previously announced it would temporarily issue all payments via physical check while the Department of Labor and Industry added new security measures . This move helped to ensure that funds did not land in the hands of fraudsters.....