Even Phillies ace can't save Pa.'s underfunded pensions

The Pennsylvania State Employees' Retirement System spends hundreds of millions of dollars a year hiring hedge fund managers, commodities dealers, venture capital and buyout and real estate artists, and it still faces a budget-busting long-term deficit. Ex-Phillies pitcher Larry Christenson, now a placement agent working for professional investors who want to manage state money, tells how he gets his piece in my Sunday Philadelphia Inquirer column here.