HARRISBURG, PA – Pennsylvania State Senator Greg Rothman has departed the Board of Trustees of the Pennsylvania Public School Employees’ Retirement System (PSERS). Rothman, the Senate Republican Caucus’ designee to the PSERS Board, resigned his position on Friday, January 17.
“It has been an honor to serve the Commonwealth in this capacity, for the benefit of both retirees and taxpayers,” Rothman said in a letter to PSERS Executive Director Terrill “Terri” J. Sanchez.
“I thank Senator Rothman and his senatorial staff for their unwavering dedication to the board, my staff, and the more than 500,000 active and retired public school employees we serve on a daily basis,” Sanchez said.
Rothman, who represents central Pennsylvania’s 34th Senatorial District, joined the PSERS board in May 2023. He is a former state representative and the former president and CEO of RSR Realtors, located in Lemoyne, Cumberland County. Rothman, a U.S. Marine Corps veteran, holds a bachelor’s degree in political science from the University of Massachusetts/Amherst and a master’s degree in real estate from Johns Hopkins University.
“Senator Rothman’s extensive personal and professional background proved invaluable to the board,” said Chairman Richard Vague. “His focus and unwavering commitment to this organization helped drive meaningful conversations around board governance, system controls, finance, and investments. On behalf of the board, I thank Senator Rothman for his service. He’ll certainly be missed.”
The President Pro Tempore of the Senate will appoint a replacement to fill this vacancy at a later date.
###
About the Board of Trustees
The 15-member Board of Trustees is an independent administrative board of the Commonwealth. The Board stands in a fiduciary relationship to the members of PSERS regarding investment decisions and disbursements of the System's funds. The Board also performs other functions outlined in 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 oversees the operational activities performed by the System's Executive Director and Chief Investment Officer.
About the Pennsylvania Public School Employees' Retirement System
PSERS, founded in 1917, began operations in 1919 to oversee a statewide defined benefit pension plan for public school employees. PSERS' role expanded upon the passage of Act 5 of 2017 to include oversight of two new benefit options consisting of defined benefit and defined contribution (DC) components and a stand-alone DC plan. As of June 30, 2024, PSERS had total net position of $77.4 billion and a membership of about 255,650 active, 253,900 retired school employees and beneficiaries, and 26,330 vested inactive members.