Pennsylvania HB 1375: An Act amending Titles 24 (Education) and 71 (State Government) of the Pennsylvania Consolidated Statutes, in administration and miscellaneous provisions, further providing for administrative duties of the Public School Employees' Retirement Board; and, in administration, funds, accounts and general provisions, further providing for administrative duties of the State Employees' Retirement Board.

Bill Text

PRINTER'S NO. 1571
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 1375
Session of
2025
INTRODUCED BY B. MILLER, KUZMA, GREINER, KAUFFMAN, GLEIM,
M. JONES, PICKETT, BARGER, HAMM, MENTZER, ZIMMERMAN, GILLEN,
D'ORSIE, DIAMOND, FEE, STAMBAUGH, JAMES, ROAE, BANTA,
SCHLEGEL, RADER, OWLETT, SCHMITT, WENTLING, KLUNK, BONNER,
T. JONES, MOUL, STAATS, COOPER, ROWE, TWARDZIK, SCIALABBA,
FREEMAN, FLEMING, SOLOMON, GAYDOS, FRITZ, ECKER, LEADBETER,
FRANKEL AND SANCHEZ, MAY 2, 2025
REFERRED TO COMMITTEE ON STATE GOVERNMENT, MAY 2, 2025
AN ACT
Amending Titles 24 (Education) and 71 (State Government) of the
Pennsylvania Consolidated Statutes, in administration and
miscellaneous provisions, further providing for
administrative duties of the Public School Employees'
Retirement Board; and, in administration, funds, accounts and
general provisions, further providing for administrative
duties of the State Employees' Retirement Board.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 8502(e)(1), (2), (3), (4) and (5) of
Title 24 of the Pennsylvania Consolidated Statutes are amended
and the section is amended by adding a subsection to read:
§ 8502. Administrative duties of board.
* * *
(e) Records.--
(1) The following shall apply:
(i) The board shall [keep a] livestream all public
board and committee meetings and post an unedited video
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and written record of all [its] such public proceedings
which shall be accessible [to the public] on its publicly
accessible Internet website, including nonconfidential
materials presented to the board, except as otherwise
provided in this part or by other law. Video and records
shall remain online for a period of at least three years
and shall be maintained for a period of at least seven
years and thereafter shall be maintained in accordance
with applicable records retention schedules.
(ii) The Office of Administration shall promptly
revise its management directives relating to record
management policies to conform with the requirements of
this paragraph and shall provide public notice of the
requirements of this subsection by publishing the
requirements on its publicly accessible Internet website
and shall transmit the requirements to the Legislative
Reference Bureau for publication in the next available
issue of the Pennsylvania Bulletin.
(2) Any record[, material or data] received, prepared,
used or retained by the board or its employees, investment
professionals or agents relating to an investment, to the
extent not otherwise excluded from access, shall [not]
constitute a [public] record subject to public access under
the act of February 14, 2008 (P.L.6, No.3), known as the
Right-to-Know Law, [if] unless, in the reasonable judgment of
the board, [the] it is found that access would:
(i) in the case of an alternative investment or
alternative investment vehicle involve the release of
sensitive investment or financial information relating to
the alternative investment or alternative investment
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vehicle which the fund or trust was able to obtain only
upon agreeing to maintain its confidentiality;
(ii) cause substantial competitive harm to the
person from whom sensitive investment or financial
information relating to the investment was received; or
(iii) have a substantial detrimental impact on the
value of an investment to be acquired, held or disposed
of by the fund or trust, or would cause a breach of the
standard of care or fiduciary duty set forth in this
part.
(3) The following apply:
(i) The sensitive investment or financial
information excluded from access under paragraph (2)(i),
to the extent not otherwise excluded from access, shall
constitute a [public] record subject to public access
under the Right-to-Know Law once the board is no longer
required by its agreement to maintain confidentiality.
(ii) The sensitive investment or financial
information excluded from access under paragraph (2)(ii),
to the extent not otherwise excluded from access, shall
constitute a [public] record subject to public access
under the Right-to-Know Law once:
(A) the access no longer causes substantial
competitive harm to the person from whom the
information was received; or
(B) the entity in which the investment was made
is liquidated;
whichever is later.
(iii) The sensitive investment or financial
information excluded from access under paragraph (2)
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(iii), to the extent not otherwise excluded from access,
shall constitute a [public] record subject to public
access under the Right-to-Know Law once:
(A) the access no longer has a substantial
detrimental impact on the value of an investment of
the fund or trust and would not cause a breach of the
standard of care or fiduciary duty set forth in this
part; or