HARRISBURG, PA – The Pennsylvania Public School Employees' Retirement System (PSERS) Board of Trustees today voted to name Terrill J. Sanchez as the Executive Director of the System.
PSERS Board Chairman Chris Santa Maria made the announcement during a Board meeting held today in Harrisburg.
"Terri has done an excellent job as Interim Executive Director and has easily proven she is more than capable to run the day-to-day operations of the System," said PSERS Chair Chris Santa Maria. "She provides solid leadership and has an excellent record of strategic plan development and implementing board governance reforms. I look forward to working with Terri as PSERS continues to implement its own governance reforms and develop additional policies and procedures. PSERS membership should take comfort in knowing that we have hired a talented Executive Director who has proven her dedication to serve PSERS membership and fulfill its mission."
Hudepohl and Associates assisted PSERS Board with the search for a new Executive Director. Ms. Sanchez was chosen from a qualified pool of candidates from the nationwide search.
"PSERS conducted a very thorough hiring process for this vital position at PSERS," said Board Chair Chris Santa Maria. "I would like to specially thank Gary Hudepohl and PSERS Human Resource Director Caitlyn Witmer for their excellent work providing the Board with a very strong pool of qualified candidates from which to choose."
Ms. Sanchez is the first woman to hold this position since the System was created in 1917. Ms. Sanchez will report directly to the Board, and she will oversee a staff of over 365 employees.
"I am extremely honored and grateful to the Board for giving me the opportunity to lead this organization and be part of its leadership history," Ms. Sanchez said. "Times are changing. I am excited to work with the stellar staff and Board at PSERS to take the System in a forward direction. I will do my part to ensure the organization remains focused on its mission and promise to provide retirement benefits for its 500,000 membership. PSERS is on a path to a very bright future, and I am happy to do my part to lead us there."
Ms. Sanchez most recently served in an emergency return to service capacity as Interim Executive Director at PSERS while a search was conducted for a new Executive Director. Prior to returning to PSERS, Ms. Sanchez served as the Executive Director of the Commonwealth of Pennsylvania, State Employees' Retirement System (SERS). At SERS, Ms. Sanchez was actively involved in implementing sweeping pension legislation as well as shepherding board governance, independent legal counsel, and investment-related initiatives, including work related to the Public Pension Management and Asset Investment Review Commission. Ms. Sanchez also spearheaded SERS development of a 3-year Strategic Business Plan, developed collaboratively with the Board and staff and facilitated by an outside consultant, and implemented regular progress reporting.
Prior to joining SERS, Ms. Sanchez served as the Deputy Executive Director of the Commonwealth's Public School Employees' Retirement System (PSERS). During Ms. Sanchez's 26-year tenure at PSERS, she championed several significant strategic initiatives resulting in more efficient and effective administration and operation of the system, and enhanced services for its members.
During her time at PSERS, she also managed the agency's facilities, human resources, procurement, policy and procedures, data and records management and technology activities to support, secure and optimize agency operations. She also held the position of PSERS' Chief Technology Officer and was the Project Manager for one of PSERS most significant agency initiatives, which was to replace its benefit-related computer systems and update the related business processes.
Ms. Sanchez succeeds former PSERS Executive Director Glen Grell who retired on February 28, 2022.
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 March 31, 2022, PSERS had total net assets of $75.9 billion and a membership of about 248,000 active, 243,000 retired school employees and 26,000 vested inactive members.
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