Editorial, includes “The PSERS has been having quite a year. Executives with the $67 billion pension fund for Pennsylvania’s public school teachers were found to have stayed in lavish hotels on the agency’s dime. The staff has been faulted for relying on costly investments that produced mediocre results. The fund sprung a surprise increase on current contributors after misstating the profitability of its returns. A board member filed a lawsuit hoping to get access to basic documents. Oh, and the FBI is investigating.”