For More Information Contact:
Steve Esack
Press Secretary
Public School Employees' Retirement System’s
Phone: 717-720-4770
e-mail: stesack@pa.gov
HARRISBURG, PA – Committee members of the Board of Trustees of the Pennsylvania Public School Employees’ Retirement System (PSERS) met Wednesday to vote on new committee chair and vice chair assignments as recommended in a recent governance review report conducted by Funston Advisory Services LLC (FAS). One of the recommendations in the report included reorganizing the Board’s committee structure and implementing a new election process for committee chair and vice chair assignments. Members of the committees voted among themselves to select their committee chair and vice chair.
The following trustees were elected by their respective committees to terms ending December 31, 2023.
- Secretary Richard Vague – Chair of the Investment Committee
- Jason Davis - Vice Chair of the Investment Committee
- Representative Frank Ryan - Chair of the Audit, Compliance & Risk Committee
- Treasurer Stacey Garrity - Vice Chair of the Audit, Compliance & Risk Committee
- Representative Matt Bradford - Chair of the Board Governance & Administration Committee.
- Secretary Richard Vague - Vice Chair of the Board Governance & Administration Committee.
Bios for the newly elected Committee Chairs and Vice Chairs noted above can be found on PSERS website at: https://www.psers.pa.gov/About/Board/Pages/Biographies.aspx
Committee members of the Board of Trustees will meet again next Wednesday, March 30th to vote on remaining committee assignments for the following committees: Defined Contribution Plan Committee, Financial and Actuarial Committee, Benefit and Appeals Committee, and the Health Care Committee.
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About the Pennsylvania Public School Employees' Retirement System
PSERS, founded in 1917, began operations in 1919 to oversee a statewide defined benefit pension plan for public school employees. PSERS' role expanded upon the passage of Act 5 of 2017 to include oversight of two new hybrid options consisting of defined benefit and defined contribution (DC) components and a stand-alone DC plan. As of Dec. 31, 2021, PSERS had net assets of $75.1 billion and a membership of about 248,000 active, 242,000 retired school employees and 26,000 vested inactive members.