Board Governance Manual
Statement of Governance
Commonwealth of Pennsylvania
Public School Employees’ Retirement Board
The Board of Trustees for the Public School Employees’ Retirement System (“PSERS”) is dedicated to ethically serving the members and stakeholders of the System and ensuring that the System and Fund are effectively managed. In doing so, the Board is committed to developing and maintaining a governance structure in accordance with the highest standards of professional responsibility and accountability. To effectuate that objective, the Board has adopted policies that act as a framework in guiding the actions of the Board as it strives to execute its mission to:
- Provide timely and accurate payment of benefits,
- Maintain a financially sound System,
- Prudently invest the assets of the System,
- Clearly communicate members and employers rights and responsibilities, and
- Effectively manage the resources of the System.
The Board’s adopted policies, which are enclosed in this manual, exemplify good governance by establishing and outlining, among other things, the Board’s leadership and overall function in the administration of the system and management of the Fund, the Board’s duties as fiduciaries to PSERS’ members, the Board’s composition and requirements related to qualifications and training, the Board’s standard of conduct to be in accordance with the highest canons of honesty, integrity, respect, and fairness, and the Board’s responsibility for providing prompt, accurate, and complete communications to PSERS’ members, employees, stakeholders, and the general public of the Commonwealth.
The policies below are an evolving set of documents that reflect the Board’s current governance practices. The policies are subject to periodic review and modification at the Board’s discretion or as mandated by law.