Pensions

PSERS SERS

Actuarial Reporting Administrative Operations Fiduciary Responsibility Investments

Would require boards at the State Employees' Retirement System (SERS) and the Public School Employees Retirement System (PSERS) to adopt the Global Investment Professional Standards, as provided by the Investment Council of the CFA Institute. Both systems must document compliance with those standards and report annually on efforts. The systems must also hire a firm to conduct an independent performance verification of these efforts. Would allow for the boards to update standards in a public meeting to conform to changing compliance standards, as published by the Investment Council of the CFA Institute.