HARRISBURG, PA – Trustee Jason Davis, who chairs the Investment Committee of the Pennsylvania Public School Employees' Retirement System (PSERS) Board of Trustees, is set to depart the Board at the end of the year. His resignation will be effective Jan. 1, 2025.
Davis participated in his final scheduled public meeting on Friday at PSERS headquarters in Harrisburg. He has dutifully served on the board since January 2017 as an elected member by the active-certified members and participants. Before becoming chair of the Investment Committee in 2020, Davis led the Budget Committee.
“After a great deal of careful consideration, I have decided to step down as a PSERS trustee to pursue other professional opportunities,” Davis said. “It has been a privilege to serve in this capacity, working alongside the talented and dedicated staff at PSERS. I am proud of what we have accomplished together, and I have full confidence that the board and staff will continue to thrive in its important work.”
Davis worked at Mellon Bank in institutional trust for 4 years focusing on various trusts and pensions before coming to PSERS. He is a 20-year veteran educator, teaching economics, AP microeconomics, and macroeconomics.
“I know I speak for the entire board in extending my gratitude to Jason for his outstanding leadership and dedication to PSERS as Chair of the Investment Committee,” Board Chairperson Richard Vague added. “Jason’s expertise, vision, and steadfast commitment has been invaluable in guiding and securing the long-term success of this organization. We are deeply grateful for his service and the exceptional work he has done in support of PSERS’ mission.”
Davis’ term would have expired on Dec. 31, 2025. In the New Year, PSERS will conduct a special election for the remainder of his term and for a subsequent three-year term per the board’s Elections Procedures and Guidelines Policy.
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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.