HARRISBURG – Christopher SantaMaria, chairman of the board of trustees of the Public School Employees’ Retirement System (PSERS), has named Rep. Frank Ryan (R-Lebanon) chairman of the PSERS Audit and Compliance Committee, a key committee as PSERS prepares for its annual audit and moves to address its $44 billion unfunded pension liability.
Ryan, a member of the PSERS board of trustees since June, is a certified public accountant with extensive experience in public and private companies, nonprofit organizations and government agencies, and has earned a reputation as a detail-oriented fiscal hawk. He is intent on working with the entire board and management team in reinforcing the soundness of the systems of internal controls so that financial and operational risks are monitored and controlled to assure future retirees that the pension they earned will be paid.
“The unfunded pension obligations and the risks inherent in today’s world markets makes internal controls critically important to our team,” said Ryan. “On the legislative front, I remain committed to ensuring the Commonwealth makes its annual required contribution payments to ensure the soundness of the pension systems while protecting taxpayers.”
“I am honored to have been named to the PSERS Audit and Compliance Committee,” said Ryan. “Our committee provides critical oversight of the board’s corporate governance and accounting controls, which will be vital as we implement much-needed fiscal reforms and track our progress toward solvency.”
An expert in corporate restructurings and management, Ryan has led many efforts to refinance debt, saving Pennsylvania taxpayers hundreds of millions of dollars.
Representative Frank Ryan
101st Legislative District
Pennsylvania House of Representatives
Media Contact: Donna Pinkham