HARRISBURG, PA – The Pennsylvania Public School Employees’ Retirement System (PSERS) continues to earn national recognition for transparency and excellence in financial reporting with two awards this year, building on its longstanding record of achievement.
PSERS received the Government Finance Officers Association’s Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR) for its Summary Annual Financial Report (SAFR) for the 10th consecutive year. The agency also received the Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report (ACFR), which it has received for the last 43 years.
Both awards recognize PSERS’ financial reports for the fiscal year ended June 30, 2025, highlighting its efforts to make complex financial information understandable to members and other stakeholders.
“Transparency and accountability are essential to building public trust and helping our members and stakeholders better understand complex financial information,” said PSERS Executive Director Uri Monson. “These awards reinforce our commitment to maintaining high standards of financial reporting and making information about the retirement system readily available and easily understandable to those we serve.”
In recognizing PSERS with the PAFR award, independent reviewers praised the SAFR’s clear explanations of complex pension and investment information, easy-to-read presentation, and commitment to transparency and accountability. The ACFR certificate recognizes the retirement system’s adherence to high standards of governmental financial reporting.
“These awards are a testament to the hard work, dedication and collaboration of staff across PSERS,” said PSERS Chief Financial Officer Brian Lyman. “Producing these reports is a truly a team effort, and earning national recognition year after year reflects the exceptional work and commitment of everyone involved.”
The SAFR provides a condensed, easy-to-understand overview of PSERS’ financial position and operations, while the ACFR provides more detailed financial, investment and actuarial information.
Members and the public can view both award-winning reports and access additional financial information on PSERS’ Financial Reports webpage.
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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, 2025, PSERS had a total net position of about $83.7 billion and a membership of about 262,000 active, 255,000 annuitants and beneficiaries, and 26,000 vested inactive members.