Ms. Terrill (Terri) J. Sanchez
PSERS Executive Director
Ms. Sanchez recently retired as the Executive Director of the Commonwealth of Pennsylvania, State Employees' Retirement System (SERS). SERS, established in 1923, is one of the nation's oldest retirement plans for public employees, with more than 240,000 members and assets of more than $34 billion. SERS also administers, through a partnership with a third-party administrator, a voluntary deferred compensation plan with nearly 58,000 participants and assets of $4.3 billion. SERS implemented a 401(a) defined contribution plan in January 2019, and as of December 31, 2020, assets in that plan were $35.7 million.
Ms. Sanchez joined SERS in May of 2018 and had been actively involved in implementing sweeping pension legislation as well as shepherding board governance, independent legal counsel, and investment-related initiatives, including work related to the Public Pension Management and Asset Investment Review Commission. Ms. Sanchez also spearheaded the agency's development of a 3-year Strategic Business Plan, developed collaboratively with the Board and staff, and she implemented regular reporting to the Board on the agency's progress against that plan. Ms. Sanchez successfully led the agency through its response to the COVID-19 pandemic and the myriad of challenges related to it, as well as the development of an on-going telework program for agency staff.
Prior to joining SERS as the Executive Director, Ms. Sanchez served as the Deputy Executive Director of the Commonwealth's Public School Employees' Retirement System (PSERS). During Ms. Sanchez's 26-year tenure at PSERS, she championed several significant strategic initiatives resulting in more efficient and effective administration and operation of the system, and enhanced services for its members.
Additionally, Ms. Sanchez had served on the Pennsylvania Association of Public Employee Retirement Systems (PAPERS) Board of Directors from November 2015 through 2018.