The Board, consisting of fifteen members, is an independent administrative board of the Commonwealth. The members of the Board stand in a fiduciary relationship to the members of the Pennsylvania Public School Employees' Retirement System regarding the investments and disbursements of moneys of the Fund. The members of the Board, as trustees of the Fund, have exclusive control and management of the Fund and full power to invest the Fund.
The Board also performs other functions as are required for the administration and execution of the Public School Employees' Retirement Code such as certifying contribution rates, authorizing the actuarial valuation and independent audit of the System, and publishing an annual financial statement of the condition of the Retirement Fund. In addition, the Board reviews the activities performed by the System's Executive Director and Chief Investment Officer.
The policies listed below have been promulgated and adopted by the Public School Employees Retirement Board for the administration of the Board and the System.