SERS Executive Director and CIO Provided Testimony Before Pension Review Committee
Yesterday, SERS Executive Director Terri Sanchez and SERS Chief Investment Officer Bryan Lewis testified before the Public Pension Management and Asset Investment Review Commission in Harrisburg regarding the system's operations, cost saving initiatives, and proposed legislative assistance to help improve efficiencies and reduce costs for the system.
"We offered a number of positive, workable suggestions to ensure the ongoing health and integrity of the system, explained SERS Executive Director Terri Sanchez." These included suggestions to help us streamline administrative functions and increase capabilities to allow us to continue with the cost-saving improvements that are already underway, and to add specialized staff in the investment and investment accounting areas that will help us to improve our investment and financial operations and audit capabilities. Most importantly, we requested the Governor and General Assembly to consider enacting a state constitutional amendment guaranteeing payment of actuarially required contributions to the pension funds on an ongoing basis (as has been done for the past three years).
"We look forward to working with the Governor and the General Assembly to review and discuss whatever suggestions and proposals the Pension Fund Review Commission and its consultants present."