PSERB Resolution 2024-01
Re: Renewal of the Administrative Services Agreement (“ASA”) with Voya Institutional Plan Services, LLC
February 1, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) hereby accepts the recommendation of the Defined Contribution Committee of the Board and renews the Administrative Services Agreement (“ASA”) with Voya Institutional Plan Services, LLC for the First Renewal Period of an additional twelve months beginning July 1, 2024 through June 30, 2025 pursuant to Section 5.1 of the ASA.
PSERB Resolution 2024-02
Re: 2024 CyberSecurity Insurance Policy
February 1, 2024
RESOLVED, that the Public School Employees' Retirement Board (the "Board") hereby approves the 2024 cyber insurance policy through Lockton Insurance, an insurance broker, with an aggregate insurance limit and retention within ranges as outlined in the Lockton Cyber insurance proposal. The final terms and conditions of the insurance policy must be satisfactory to the Office of Chief Counsel, Chief Information Security Officer, and the Office of the Executive Director.
PSERB Resolution 2024-03
Re: Audit, Compliance, and Risk Committee 2024 Work Plan
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Audit, Compliance, and Risk Committee to approve the Audit, Compliance, and Risk Committee Work Plan for 2024, as set forth in the attachment, to be used as a guide in the development of agendas.
PSERB Resolution 2024-04
Re: Audit, Compliance, and Risk Committee Charter
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board hereby accepts the recommendation of the Audit, Compliance and Risk Committee and adopts the changes to the Audit, Compliance and Risk Committee Charter.
PSERB Resolution 2024-05
Re: Enterprise Risk Management Program Charter
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Audit, Compliance, and Risk Committee to adopt the Enterprise Risk Management Program Charter.
2024-06 PSERB Resolution
Re: Compliance Program Charter
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Audit, Compliance, and Risk Committee to adopt the Compliance Program Charter.
PSERB Resolution 2024-07
Re: Internal Audit Office Charter
March 22, 2024
2024-08 PSERB Resolution
Re: 2024 Board Education Plan
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board ("the Board) accepts the recommendation of the Governance and Administration Committee and adopts the 2024 Board Education Plan and authorizes the Executive Director, in consultation with the Board Chairperson, to alter the schedule or topic or provide for additional presentations as a result of changing priorities.
2024-09 PSERB Resolution
Re: Governance and Administration Committee 2024 Work Plan
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Governance and Administration Committee to approve the Governance and Administration Committee Work Plan for 2024, as set forth in the attachment, to be used as a guide in the development of agendas.
PSERB Resolution 2024-10
Re: Defined Contribution Committee 2024 Work Plan
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Defined Contribution Committee to approve the Defined Contribution Committee Work Plan for 2024, as set forth in the attachment, to be used as a guide in the development of agendas.
2024-11 PSERB Resolution
Re: Defined Contribution Benchmarking Subscription Services—CEM Benchmarking Inc.
March 22, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Defined Contribution Committee of the Board and moves to recommend that the Board engages CEM Benchmarking Inc. for Defined Contribution Benchmarking Subscription Services at a base cost of $87,000 for a three-year term.
The final terms and conditions of the contract are subject to legal due diligence and must be satisfactory to the Deputy Executive Director and Director of Defined Contribution Investments, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing contract.
2024-12 PSERB Resolution
Re: Health Care Committee 2024 Work Plan
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Health Care Committee to approve the Health Care Committee Work Plan for 2024, as set forth in the attachment, to be used as a guide in the development of agendas.
2024-13 PSERB Resolution
Re: Finance and Actuarial Committee 2024 Work Plan
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Finance and Actuarial Committee to approve the Finance and Actuarial Committee Work Plan for 2024, as set forth in the attachment, to be used as a guide in the development of agendas.
PSERB Resolution 2024-14
Re: Benefits and Appeals Committee 2024 Work Plan
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Benefits and Appeals Committee to approve the Benefits and Appeals Committee Work Plan for 2024, as set forth in the attachment, to be used as a guide in the development of agendas.
PSERB Resolution 2024-15
Re: Pension Administration Benchmarking Subscription Services—CEM Benchmarking Inc.
March 22, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Benefits and Appeals Committee of the Board and moves to recommend that the Board engages CEM Benchmarking Inc. for Pension Administration Benchmarking Subscription Services at a base cost of $177,000 for a three-year term.
The final terms and conditions of the contract are subject to legal due diligence and must be satisfactory to the Deputy Executive Director and Director of Defined Contribution Investments, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing contract.
Re: Account of Hofknecht, A., Docket No. 2021-18
March 22, 2024
RESOLVED, that in the matter of Allen M. Hofknecht (Deceased) under claim of Thomas Hofknecht, Docket No. 2021-18, the Public School Employees’ Retirement Board hereby accepts the recommendation of the Benefits and Appeals Committee and adopts the proposed Opinion and Order of the Board and dismisses Claimant’s appeal with prejudice.
PSERB Resolution 2024-17
Re: Account of Capizzi, D., Docket No. 2020-07
March 22, 2024
RESOLVED, that in the matter of Deborah K. Capizzi (Deceased) under claim of Thomas Capizzi, Docket No. 2020-07, the Public School Employees’ Retirement Board hereby accepts the recommendation of the Benefits and Appeals Committee and adopts the Opinion and Recommendation of the Hearing Examiner and dismisses Claimant’s appeal with prejudice.
PSERB Resolution 2024-18
Re: Investment Committee 2024 Work Plan
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Investment Committee to approve the Investment Committee Work Plan for 2024, as set forth in the attachment, to be used as a guide in the development of agendas.
PSERB Resolution 2024-19
Re: Investment Policy Statement
March 22, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Investment Committee and adopts the changes to the following investment policies attached:
- Investment Policy Statement
- Consolidation of the Private Equity, Private Credit, Private Commodities,Private Infrastructure, Private Real Estate Policies into the Private MarketsAsset Class Policy.
- Consolidation of the Public Equity, Public Fixed Income, PublicCommodities, Public Real Estate, Public Infrastructure and AbsoluteReturn Policies into the Public Markets Asset Class Policy.
PSERB Resolution 2024-20
Re: Proxy Voting Policy
March 22, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and authorizes the Investment Office to amend or replace the U.S. Proxy Voting Policy and the Non-U.S. Proxy Voting Policy for the Public School Employees’ Retirement System, subject to review by the Office of Chief Counsel, to reflect the adoption of the attached Glass Lewis Corporate Governance Focused Thematic Voting Policy Guidelines with the following overrides:
REINCORPORATION PROPOSALS
PSERS will vote FOR all reincorporation proposals to reincorporate in Pennsylvania.
PSERS will vote AGAINST all reincorporation proposals to reincorporate Pennsylvania companies outside of Pennsylvania.
NORTHERN IRELAND RESOLUTIONS
PSERS will vote FOR resolutions pertaining to Northern Ireland that advocate adoption of the affirmative action measures set forth in 24 Pa. C.S. §8527(b), including adopting or reporting on MacBride Principles. The MacBride principles are a set of nine equal opportunity/affirmative action principles aimed at fighting religious discrimination in employment in Northern Ireland.
The Board further authorizes:
- full delegation of PSERS’ proxy vote implementation function to GlassLewis with continued oversight by PSERS’ staff and the Board, and
- triennial review of PSERS’ proxy voting policies to address governanceissues to protect and enhance the value of PSERS’ investments as a long-term shareholder.
PSERB Resolution 2024-21
Re: JP Morgan Asset Management
March 22, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and (i) commits an initial amount of $500 million plus reasonable normal investment expenses, to J.P. Morgan Asset Management and (ii), authorizes the Investment Office in its discretion to invest an additional sum up to $1 billion unless this amount exceeds the single manager limits approved by the Board as found in the Investment Policy Statement.
The final terms and conditions of the engagement are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-22
Re: Garcia Hamilton & Associates, L.P.
March 22, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and (i) commits an initial amount $500 million plus reasonable normal investment expenses, to Garcia Hamilton & Associates, L.P. and (ii), authorizes the Investment Office in its discretion to invest an additional sum up to $1 billion unless this amount exceeds the single manager limits approved by the Board as found in the Investment Policy Statement.
The final terms and conditions of the engagement are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-23
Re: Commonwealth Holdings, Inc
March 22, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and authorizes the disposition or transfer of the assets held by Commonwealth Holdings, Inc.
The final terms and conditions of the disposition or transfer are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contract.
PSERB Resolution 2024-24
Re: Keystone-Florida Property Holding Corp
March 22, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and authorizes the disposition of the assets held by Keystone-Florida Property Holding Corp.
The final terms and conditions of the disposition are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contract.
PSERB Resolution 2025-25
Re: FY24-25 Internal Audit Plan
May 31, 2024
RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Audit, Compliance, and Risk Committee and adopts the FY24-25 Internal Audit plan.
PSERB Resolution 2024-26
Re: Investment Policy Statement
May 31, 2024
RESOLVED, that the Public School Employees' Retirement Board (the "Board") accepts the recommendation of the Investment Committee and adopts the changes to the following investment policies, attached:
Policies with changes only
- Investment Policy Statement
- Liquidity Policy
- Securities Lending Policy
- Tail Risk Mitigation Strategy Policy
- Qualified Independent Representative (QIR) Policy
Policies to be changed and consolidated
- Consolidation of the Cash Policy into the Public Markets Asset ClassPolicy
- Consolidation of the Derivatives Policy and the Leverage Policy into asingle Derivatives and Leverage Policy
PSERB Resolution 2024-27
Re: Bank of New York Mellon – Securities Lending Agent
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to hire Bank of New York Mellon as securities lending agent subject to the Investment Policy Statement, related Board policies, Objectives and Guidelines, as amended from time to time.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-28
Re: ICG Europe Mid-Market Fund II SCSp
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to invest an amount not to exceed €150,000,000 plus reasonable and normal investment expenses, to ICG Europe Mid-Market Fund II SCSp and/or related investment vehicles.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-29
Re: Carlyle Realty Partners X, LP
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to invest an amount not to exceed $300,000,000 plus reasonable and normal investment expenses, to Carlyle Realty Partners X, LP and/or related investment vehicles.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-30
Re: CION Grosvenor Infrastructure Interval Fund, LP
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to invest an amount not to exceed $300,000,000 plus reasonable and normal investment expenses, to CION Grosvenor Infrastructure Interval Fund, LP and/or related investment vehicles.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-31
Re: Investment Compliance Monitoring Services
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to authorize staff to negotiate the terms of a sole source procurement for Investment Compliance Monitoring Services with IQ EQ for a period of three years with not more than two one-year renewals negotiated at the discretion of staff.
The final terms and conditions of the contract are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the contract.
PSERB Resolution 2024-32
Re: Account of Nelson, Docket No. 2019-09
May 31, 2024
RESOLVED, that in the matter of Charles H. Nelson (Deceased) under claim of Jean Nelson, Docket No. 2019-09, the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Benefits and Appeals Committee and adopts the attached Opinion and Order of the Board and dismisses Claimant’s appeal with prejudice.
PSERB Resolution 2024-33
Re: Account of Zilinskas, Docket No. 2021-01
May 31, 2024
RESOLVED, that in the matter of Mark J. Zilinskas, Docket No. 2021-01, the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Benefits and Appeals Committee and adopts the attached Opinion and Order of the Board and dismisses Claimant’s appeal with prejudice.
PSERB Resolution 2024-34
Re: Account of Prusick, Docket No. 2019-11
May 31, 2024
RESOLVED, that in the matter of David J. Prusick, Docket No. 2019-11, the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Benefits and Appeals Committee and adopts the attached Opinion and Order of the Board and dismisses Claimant’s appeal with prejudice.
PSERB Resolution 2024-35
Re: Cyber Insurance Brokerage Services
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Governance and Administration Committee and authorizes PSERS staff to initiate the request for proposal process for an insurance broker to provide services in securing cyber security insurance.
PSERB Resolution 2024-36
Re: Electronic Board Platform
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Governance and Administration Committee and authorizes staff to seek a software renewal of the Electronic Board Platform Services that are currently provided to PSERS by Diligent Corporation and extend the license to use such software for a period not to exceed five years.
The final terms and conditions of the contract are subject to legal due diligence and must be satisfactory to the Deputy Executive Director for Administration, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing contract.
PSERB Resolution 2024-37
Re: 2025 HOP Plans and Rates
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the "Board") accepts the recommendation of the Health Care Committee and adopts the plan design changes and monthly premium rates listed in the attached charts for the HOP Medical Plan, HOP Value Medical Plan, the Pre-65 HOP Medical Plan, the HOP "High" Medicare Part D Rx Plan, and the HOP "Low" Medicare Part D Rx Plan effective January 1, 2025 for plan year 2025.
The attached charts will be made public on October 1, 2024 pursuant to the marketing requirements and related provisions of the Medicare Advantage and Medicare Prescription Drug Benefit rules (Chapter 42 of the Code of Federal Regulations, Parts 422 and 423).
PSERB Resolution 2024-38
Re: Renewal and Amendment of the Agreement for Prescription Drug Benefits Administration Services with OptumRx, Inc.
May 31, 2024
RESOLVED, that the Public School Employees’ Retirement Board accepts the recommendation of the Health Care Committee and authorizes staff to negotiate the terms of renewing the Agreement for Prescription Drug Benefits Administration Services with OptumRx, Inc. and further authorizes the agreement to be amended to include the administration of the Medicare Prescription Payment Plan required under the Inflation Reduction Act of 2022. The final terms and conditions of the amendments are subject to legal due diligence and must be satisfactory to the Office of Chief Counsel, the Health Insurance Office, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the amendment.
PSERB Resolution 2024-39
Re: Premium Stabilization Demonstration Program
August 5, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Health Care Committee and authorizes staff to enroll the Health Options Program in the Premium Stabilization Demonstration Program created by the Centers for Medicare & Medicaid Services (CMS).
PSERB Resolution 2024-40
Re: Account of Musser B., Docket No. 2021-03
August 16, 2024
RESOLVED, that in the matter of Brett A. Musser, Docket No. 2021-03, the Public School Employees’ Retirement Board hereby accepts the recommendation of the Benefits and Appeals Committee and adopts the proposed Opinion and Order of the Board and dismisses Claimant’s appeal with prejudice.
PSERB Resolution 2024-41
Re: Investment Policy Statement
August 16, 2024
RESOLVED, that the Public School Employees' Retirement Board (the "Board") accepts the recommendation of the Investment Committee and adopts the changes to the following investment policies, attached:
Policies with changes only
- Investment Policy Statement
Policies to be changed and consolidated
- Consolidation of the Traditional Investments Due Diligence Policy and the Non-Traditional Investments Due Diligence Policy into a single External Manager DueDiligence and Monitoring Policy
PSERB Resolution 2024-42
Re: Aksia Contract Extension
August 16, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to extend the term of Aksia contract - Hedge Fund and Private Credit Investment Consulting Services (“Aksia Contract #1”), from January 31, 2026, to February 29, 2028, to make it coterminous with Aksia contract - Private Markets Investment Consulting and Back-Office Services (“Aksia Contract #2”).
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-43
Re: LLR Equity Partners VII, L.P.
August 16, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to invest an amount not to exceed $125 million, plus reasonable and normal investment expenses, to LLR Equity Partners VII, L.P., and/or related investment vehicles.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-44
Re: Summit Partners Growth Equity Fund XII – A, L.P.
August 16, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to invest an amount not to exceed $100 million, plus reasonable and normal investment expenses, to Summit Partners Growth Equity Fund XII - A, L.P., and/or related investment vehicles.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-45
Re: ACORE Opportunistic Credit II, L.P.
August 16, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to invest an amount not to exceed $175 million, plus reasonable and normal investment expenses, to ACORE Opportunistic Credit II, L.P., and/or related investment vehicles.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-46
Re: Blackstone Infrastructure Partners Europe (CYM) L.P.
August 16, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to (i) commit an amount not to exceed €200,000,000 plus reasonable and normal investment expenses, to Blackstone Infrastructure Partners Europe (CYM) L.P. and/or related investment vehicles, and (ii) authorizes the Investment Office in its discretion to commit additional sums to Blackstone Infrastructure Partners, L.P., Blackstone Infrastructure Partners Europe (CYM) L.P. and/or related investment vehicles provided that at the time of any such commitment, the NAV of these vehicles together with the additional commitment amount, does not exceed the greater of (a) $1,000,000,000 or (b) 25% of the Private Infrastructure Portfolio’s NAV, until such time as otherwise approved or amended.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-47
Re: Peppertree Capital Fund X QP, L.P.
August 16, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to invest an amount not to exceed $100 million, plus reasonable and normal investment expenses, to Peppertree Capital Fund X QP, L.P., and/or related investment vehicles.
The final terms and conditions of the investment are subject to legal due diligence and must be satisfactory to the Investment Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing investment contracts.
PSERB Resolution 2024-48
Re: Account of J.W., Docket No. 2021-02
August 16, 2024
RESOLVED, that, in the matter of J.W., Docket No. 2021-02, the Public School Employees' Retirement Board accepts the recommendation of the Benefits and Appeals Committee and adopts the attached Opinion and Order of the Board and dismisses Claimant’s appeal with prejudice.
PSERB Resolution 2024-49
Re: 2025 HOP Medicare Rx Rates
August 16, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Health Care Committee and adopts the revised monthly premium rates listed in the attached for the HOP Medicare Plus Rx Plan and the HOP Medicare Standard Rx Plan effective January 1, 2025 for plan year 2025.
The attached will be made public on October 1, 2024 pursuant to the marketing requirements and related provisions of the Medicare Advantage and Medicare Prescription Drug Benefit rules (Chapter 42 of the Code of Federal Regulations, Parts 422 and 423).
PSERB Resolution 2024-50
Re: RFP 2024-02 Health Care Plan Consulting and Management Services
August 16, 2024
RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Health Care Committee and engages The Segal Company for RFP 2024-02 Health Care Plan Consulting and Management Services. The final terms and conditions of the contract are subject to legal due diligence and must be satisfactory to the Health Insurance Office, the Office of Chief Counsel, and the Office of Executive Director, as evidenced either by the appropriate signatures on, or by a memo to that effect appended to, the implementing contract.
PSERB Resolution 2024-51
Re: Settlement of PSERB, et al. v. Aon Investments USA Inc.
August 16, 2024
RESOLVED, that the Public School Employees' Retirement Board (“the Board") hereby authorizes the settlement of the claims of the Board against Aon Investments USA Inc. (“Aon”) and the lawsuit brought against Aon in the Court of Common Pleas of Philadelphia County, Pennsylvania, Case No. 221102792 in exchange for a lump sum payment of $7,000,000. The final terms and conditions of a settlement agreement and mutual release between the Board and Aon must be in conformance with this Resolution and satisfactory to the Office of Chief Counsel and the Board Chairperson, as evidenced either by the appropriate signatures on the settlement agreement or by a memo to that effect appended to the settlement agreement and mutual release
