SERS has a fiduciary obligation to our members. We manage the funds entrusted to us in ways that will ensure payment of current and future retirement benefits. At the core of our effort is professional investment and oversight of more than $26 billion. Key aspects of our work, current investments, and the health of the fund are published by June 30 of each year in a comprehensive annual financial report.
Our primary investment objective is to assure adequate accumulation of reserves in the SERS fund at the least cost to Pennsylvania citizens while preserving principal against erosion resulting from inflation. Our work is guided by SERS' investment policy and strategic investment plan.
The investment policy is detailed in four statements: a general statement and specific statements for real estate, private equity, as well as investment manager monitoring. The policy outlines SERS' investment philosophy, practices, and objectives, and defines the duties of each party involved in the investment process.
Defined Contribution Plan Statement of Investment Policy
Strategic Investment Plan
The SERS board-approved strategic investment plan describes the investment program's strategy, structure, and implementation, and establishes a strategic asset allocation. SERS' investment professionals and consultants work together to analyze major quantitative and qualitative factors - including the unique needs, preferences, objectives, and constraints of our pension fund and expected long-term market conditions - to help shape the two-year plan. If economic, fiscal, or capital market conditions change significantly over the plan period, the board may modify the plan.