Pensions

PMRS PSERS SERS

Administrative Operations Investments

Directs the Pennsylvania Office of the State Treasure, the State Employees’ Retirement System (SERS), the Public School Employees’ Retirement System (PSERS) and the Pennsylvania Municipal Retirement System (PMRS) to identify all direct, indirect and alternative investments and securities of sanctioned Chinese companies, scrutinized companies, and the Chinese government. The legislation also prohibits public funds from acquiring any of these investments after the effective date of the legislation. Provides reporting standards, and directs the Secretary of the Budget to establish a methodology to determine reimbursement of net losses, costs and expenses incurred for each public fund.