Pennsylvania Treasurer Stacy Garrity announced that the Pennsylvania Treasury Department has again passed an independent verification confirming compliance with the Global Investment Performance Standards (GIPS®).
The verification was conducted by The Spaulding Group, a firm specializing in GIPS verification and investment performance measurement. Pennsylvania Treasury is the only state treasury in the nation to achieve and maintain GIPS compliance.
GIPS standards are established and administered by CFA Institute and are internationally recognized for investment performance reporting.
In addition to the verification, The Spaulding Group conducted a performance examination of Treasury’s PA 529 Guaranteed Savings Plan, which was 152 percent funded as of Dec. 31, 2025. The plan allows Pennsylvanians to save for higher education costs at current rates and is the companion to the PA 529 Investment Plan, which received its third consecutive Gold Rating from Morningstar in November.
This marks the second successful GIPS verification for the Pennsylvania Treasury. GIPS standards are adopted by more than 1,600 firms and asset owners across more than 50 markets worldwide, including all of the top 25 asset management firms for some or all of their assets, according to Pensions & Investments.
GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
