Policy Statement

Policy Statement Policy #97-001: Standing Committees

Date: 04/17/1997
Referenced Sources: Public Employees Retirement Administration Commission

Contact for Policy #97-001: Standing Committees

Public Employee Retirement Administration Commission

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Table of Contents

Standing Committees

The Public Employee Retirement Administration Commission (Commission) must perform its oversight and management of affair? in an efficient and effective manner. The Commission therefore establishes this policy to further its efforts in providing the appropriate level of authority and responsibility over the staff and issues coming before it. 

The Commission establishes the following standing sub-committees to assist it in its performance. The sub-committees will perform necessary review and analysis of issues relating to its mandate and will report to the full Commission on recommendations it feels appropriate. The sub-committees will carry all additional authority of the Commission as the Commission Chair assigns. 

Administrative Sub-Committee 

This sub-committee is assigned responsibility over the general administrative issues of the operation of the Commission. It will work with the Executive Director for budget preparation, to prepare regulations as they relate to administrative directive, to correct legislation deemed necessary to carry out the administrative mandate of the Commission, and other administrative oversight as deemed necessary by the Sub-Committee Chair. 

Legislative Sub-Committee 

This sub-committee is assigned responsibility over the Commission's analysis and response to Commonwealth and Federal legislation as it deems appropriate in the best interests of the public retirement system community and other interests of the Commonwealth. The sub-committee will coordinate with staff to develop procedures dealing with proactive treatment of legislative initiatives, develop legislative positions for review and action by the Commission, review opinions established by staff for concurrence by the Commission, and recommend for introduction any other legislative initiatives that it deems necessary for the Commission's fulfillment of its responsibilities. 

Disability Sub-Committee 

This sub-committee is primarily responsible for reviewing all disability related processes.. The sub-committee will be responsible for review of staff recommendations on current legislative analysis and in developing recommendations for the Commission's adoption on any corrective legislation that may be necessary to fully implement the program. 

Audit / Fraud Prevention Sub-Committee 

This sub-committee is primarily responsible for the general oversight of the Fraud Prevention operations of the Commission. The sub-committee is also responsible for oversight of the Commission's audit responsibilities as well as being the Commission's representative for any sensitive audit findings or fraud investigations that must be brought to the Commission's attention. 

Investment Sub-Committee 

This sub-committee will be primarily responsible for the review and recommendation of regulations on investment policies and practices allowed by the Commission. The sub­committee will also be responsible for the review with staff of any new type or derivation of any traditional asset class. The sub-committee will be responsible for review of the annual investment report before presentation to the Commission. 

Contact for Policy #97-001: Standing Committees

Adopted at Commission meeting on April 17, 1997 and amended on April 11, 2018. 

Referenced Sources:
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