Board Resolutions

PSERB Resolution 2026-03
Re: Defined Contribution Committee 2026 Work Plan
January 9, 2026

RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Defined Contribution Committee and approves the attached Defined Contribution Committee Work Plan for 2026 to guide the Committee Chair in the development of agendas and authorizes the Committee Chair to revise the Work Plan, as needed.

PSERB Resolution 2026-04
Re: Finance and Actuarial Committee 2026 Work Plan
January 9, 2026

RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Finance and Actuarial Committee and approves the attached Finance and Actuarial Committee Work Plan for 2026 to guide the Committee Chair in the development of agendas and authorizes the Committee Chair to revise the Work Plan, as needed. 

PSERB Resolution 2026-05
Re: Governance and Administration Committee 2026 Work Plan
January 9, 2026

RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Governance and Administration Committee and approves the attached Governance and Administration Committee Work Plan for 2026 to guide the Committee Chair in the development of agendas and authorizes the Committee Chair to revise the Work Plan, as needed. 

PSERB Resolution 2026-06
Re: 2026 Board Education Plan
January 9, 2026

RESOLVED, that the Public School Employees' Retirement Board ("the Board) accepts the recommendation of the Governance and Administration Committee and adopts the 2026 Board Education Plan and authorizes the Executive Director, in consultation with the Board Chairperson, to alter the schedule or topicor provide for additional presentations as a result of changing priorities.

PSERB Resolution 2026-07
Re: Election Management and Administrative Service
January 9, 2026

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Governance and Administration Committee and engages Election-America, Inc. d/b/a YESElections for negotiations following RFP# 2025-8, Election Management and Administrative Services.

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, theOffice of Chief Counsel, and the Office of Executive Director, as evidenced eitherby the appropriate signatures on, or by a memo to that effect appended to, theimplementing contract.

PSERB Resolution 2026-08
Re: Health Care Committee 2026 Work Plan
January 9, 2026

RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Health Care Committee and approves the attached Health Care Committee Work Plan for 2026 to guide the Committee Chair in the development of agendas and authorizes the Committee Chair to revise the Work Plan, as needed. 

PSERB Resolution 2026-09
Re: Investment Committee 2026 Work Plan
January 9, 2026

RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Investment Committee and approves the attached Investment Committee Work Plan for 2026 to guide the Committee Chair in the development of agendas and authorizes the Committee Chair to revise the Work Plan, as needed. 

PSERB Resolution 2026-10
Re: 2025 Stress Test Report
March 19, 2026 

RESOLVED, that the Public School Employees’ Retirement Board accepts the recommendation of the Finance and Actuarial Committee and adopts the 2025 Stress Test Report.

PSERB Resolution 2026-11
Re: RFP 2025-04 Actuarial Services
March 19, 2026 

RESOLVED, that the Public School Employees’ Retirement Board adopts the recommendation of the Finance and Actuarial Committee and engages Gallagher Benefit Services, Inc. for negotiations following RFP #2025-4, Actuarial Services.

The final terms and conditions of the contract are subject to legal due diligence and must be satisfactory to the Chief Financial Officer, 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 2026-12
Re: Cybersecurity Insurance Policy 2026
March 19, 2026

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) hereby approves the 2026 cyber insurance policy through Arthur J. Gallagher Risk Management Services (Gallagher), with an aggregate insurance limit and retention within ranges as outlined in the Gallagher insurance proposal.

The final terms and conditions of the insurance policy must be satisfactory to the Office of Chief Counsel, the Deputy Executive Director for Administration, and the Office of Executive Director.

PSERB Resolution 2026-13
Re: Apfel G., Docket No. 2022-12
March 19, 2026

RESOLVED, that, in the matter of Gail I. Apfel, Docket No. 2022-12 the Public School Employees’ Retirement Board accepts the recommendation of the Benefits and Appeals Committee and adopts the proposed Opinion and Order of the Board and grants Claimant’s appeal.

PSERB Resolution 2026-14
Re: Snook G., Docket No. 2024-06
March 19, 2026

RESOLVED, that, in the matter of Gregory W. Snook, Docket No. 2024-06 the Public School Employees’ Retirement Board 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 2026-15
RFP 2025-1 Third-Party Administrative Services for HOP and Premium Assistance
March 19, 2026 

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Health Care Committee and engages Luminare Health for negotiations in accordance with the recommendation of the  Evaluation Committee for RFP #2025-1 Third-Party Administrator for the Health Options Program and Premium Assistance. 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.

PSERS Resolution 2026-16
Re: DRA Growth and Income Fund XII, LLC
March 19, 2026 

RESOLVED, that the Public School Employee’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and commits an amount not to exceed $150 million, plus reasonable and normal investment expenses, in DRA Growth and Income Fund XII, LLC and/or related investment vehicles in accordance with the recommendation of Jarrett Richards, Portfolio Manager, and Aksia, LLC.

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 contract. 

PSERB Resolution 2026-17
Re: LS Power Equity Partners VI, L.P.
March 19, 2026 

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and commits an amount not to exceed $200 million, plus reasonable and normal investment expenses, in LS Power Equity Partners VI, L.P., and/or related investment vehicles in accordance with the recommendation of Cody Steele, Senior Portfolio Manager and Aksia, LLC.

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 contract.

PSERB Resolution 2026-18
Re: Warwick Partners V LP
March 19, 2026 

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and commits an amount not to exceed $75 million, plus reasonable and normal investment expenses, in Warwick Partner V LP, and/or related investment vehicles in accordance with the recommendation of Cody Steele, Senior Portfolio Manager and Aksia, LLC.

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 contract.

PSERB Resolution 2026-19
Re: LLR Partners, Relationship Level Delegation
March 19, 2026 

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee and delegates the authority to the Chief Investment Officer in his discretion to commit new or additional sums to private markets investment vehicles managed by LLR Partners (“LLR”) and/or their affiliates, subject to each of the following constraints:

a. Any new or additional commitments must be compliant with the External Manager exposure risk limits outlined in the Private Markets Asset Class Policy.

b. For any new or additional commitments, PSERS total Private Markets Exposure (“NAV and unfunded”) to LLR shall not represent more than 10% of PSERS Total Private Markets target allocation.

c. Each individual new or additional commitment to LLR shall not exceed 1.5% of PSERS Total Private Markets target allocation.

Utilization of this delegated authority is subject to the notification and periodic reporting as prescribed within the External Manager Due Diligence and Monitoring Policy and this delegation prospectively supersedes and nullifies any prior grants of discretion by way of board resolutions related to LLR.

The final terms and conditions of new or additional commitments authorized under this delegation 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 2026-20
Re: Directly Held Real Estate
March 19, 2026 

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee and delegates to the Chief Investment Officer authority to arrange for and complete the dispositions of the remaining directly held real estate investments. 

The final terms and conditions of the dispositions 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 2026-21
Re: Fiscal Year 2026-2027 Enterprise Risk Management Plan
June 17, 2026 

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Audit, Compliance and Risk Committee and adopts the Fiscal Year 2026 – 2027 Enterprise Risk Management Plan.

PSERB Resolution 2026-22
Re: Fiscal Year 2026-2027 Internal Audit Plan
June 17, 2026

RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Audit, Compliance and Risk Committee and adopts the Fiscal Year 2026 – 2027 Internal Audit Plan.

PSERB Resolution 2026-23
Re: Fiscal Year 2026-2027 Enterprise Compliance Plan
June 17, 2026

RESOLVED, that the Public School Employees' Retirement Board accepts the recommendation of the Audit, Compliance and Risk Committee and adopts the Fiscal Year 2026 – 2027 Enterprise Compliance Plan.

PSERB Resolution 2026-24
Re: Account of Bey, N., Docket No. 2024-02
June 17, 2026

RESOLVED, that, in the matter of Nabeelah A. Bey, Docket No. 2024-02, the Public School Employees’ Retirement Board accepts the recommendation of the Benefits and Appeals Committee and grants PSERS exceptions and adopts the proposed Opinion and Order of the Board and dismisses Claimant’s appeal with prejudice.

PSERB Resolution 2026-25
Re: 2027 HOP Plans and Rates
June 17, 2026

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 Medicare Plus Rx Plan, and the HOP Medicare Standard Rx Plan effective January 1, 2027 for plan year 2027.

The attached charts will be made public on October 1, 2026 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 2026-26
Re: Rescission of the Board Public Information Policy and Recommendation for the Right-to-Know Law Staff Procedures
June 17, 2026

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Governance and Administration Committee (the “Committee”) and rescinds the Board Public Information Policy.

It is further resolved that the Board accepts the recommendation of the Committee to designate formal Right-to-Know Law procedures maintained as PSERS’ Staff Procedures and delegate the duty for updating and complying with the procedures to the Executive Director.

PSERB Resolution 2026-27
Re: General Investment Consultant
June 17, 2026

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee and engages Cerity Partners Retirement Plan Advisors LLC d/b/a Cerity Partners Institutional Consulting (“Cerity”) for negotiations in accordance with the recommendation of the Evaluation Committee for RFP# 2026-2, General Investment Consultant.

The final terms and conditions of the contract are subject to legal due diligence and must be satisfactory to the Chief Investment Officer, 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 2026-28
Re: BNY Investments Mellon
June 17, 2026

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) accepts the recommendation of the Investment Committee to invest up to $25 billion (plus reasonable and normal investment related expenses) with BNY Investments Mellon in accordance with the recommendation of Carl Lantz, Director, Steven Heuer, Senior Portfolio Manager and Cerity Partners, with initial amount of

i) approximately $16 billion to a passive U.S. equity mandate benchmarked to the S&P 1500 and

ii) approximately $4 billion to a Developed Markets ex-US equity mandate benchmarked to the MSCI World ex-US         

Per the PSERB Investment Policy Statement (IPS), the CIO shall have authority to direct additional assets into and from the investment vehicles established pursuant to this resolution for the purpose of maintaining asset allocations with the targets stipulated with the IPS, insomuch as the Investment Office will notify the Investment Committee should the total amount of publicly traded equity assets managed by BNY Investment Mellon meets or exceeds the initial $25 billion threshold;

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 contract.          

PSERB Resolution 2026-29
Re: TPG Peppertree Fund XI-A LP
June 17, 2026

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee to invest an amount not to exceed $75 million, plus reasonable and normal investment expenses, in TPG Peppertree Fund XI – A 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 contract.

PSERB Resolution 2026-30
Re: PAI Mid-Market Fund II SCSp
June 17, 2026

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, in PAI 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 contract.

PSERB Resolution 2026-31
Re: PAI Partners, Relationship Level Delegation
June 17, 2026

RESOLVED, that the Public School Employees’ Retirement Board (the “Board”) adopts the recommendation of the Investment Committee and delegates the authority to the Chief Investment Officer in his discretion to commit new or additional sums to private markets investment vehicles managed by PAI Partners (“PAI”) and/or their affiliates, subject to each of the following constraints:

1. Any new or additional commitments must be compliant with the ExternalManager exposure risk limits outlined in the Private Markets Asset ClassPolicy.
2. For any new or additional commitments, PSERS total Private MarketsExposure (“NAV and unfunded”) to PAI shall not represent more than 10%of PSERS Total Private Markets target allocation.
3. Each individual new or additional commitment to PAI shall not exceed1.5% of PSERS Total Private Markets target allocation.

Utilization of this delegated authority is subject to the notification and periodic reporting as prescribed within the External Manager Due Diligence and Monitoring Policy and this delegation prospectively supersedes and nullifies any prior grants of discretion by way of board resolutions related to PAI.

The final terms and conditions of new or additional commitments authorized under this delegation 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.