As introduced, the bill contains only what the SERS Board has recommended. Click here to read SERS’ press release about the bill.

SERS Executive Director Lisa Morris provided testimony on S.B. 341 before the Senate Committee on Tuesday afternoon. Click here to read her testimony.

“As a mid-size U.S. public pension fund, we were looking for a director of investments with large public pension investment experience, and Farouki brings that expertise,” said SERS’ Executive Director Lisa J. Morris. “SERS has been proactive in building a highly diversified investment portfolio, and Farouki’s educational and professional background will be extremely beneficial as we continue the work of reducing risk in the portfolio and enhancing returns.”

SERS began the search for a new director of investments on July 1, 2011 when current Director of Investments Robert Cowman announced his intention to retire in 2012. Korn/Ferry International was retained in November 2011 to assist in the nationwide search.

Majeed begins his new duties at SERS on July 2, 2012. His educational background includes an MBA in finance from Rutgers University and a Bachelor of Science in engineering from the University of Sri Lanka.

After Mr. Cowman officially retires at the end of April, Steve Price, SERS’ senior investment officer in global private equity, will act as interim director until Majeed joins SERS in July. Price has been with SERS for six years, and was instrumental in building the private equity portfolio from the previous real estate and alternative assets portfolio.

SERS is a defined benefit public pension fund that provides pensions and access to health care coverage for the people who serve Ohio schools. SERS’ members are bus drivers, custodians, administrators, administrative assistants, food service providers, and educational aides – anyone who works for a school or school system in a nonteaching position.

Protecting and growing the retirement contributions of SERS’ members and their employers is a priority. In fiscal year 2011, SERS served 125,337 active, contributing members and 67,221 benefit recipients. SERS paid out more than $1 billion in pensions and health care benefits, and $812 million in pension benefits alone were returned to Ohio’s local economies.

She has worked for the Ohio Department of Insurance as an Assistant Director, Life and Health, Managed Care and health actuarial sections and Assistant Director, Policy Section. Most recently she has provided independent consulting services to health care insurers, third party payers, employers, and others on all types of health and life insurance regulatory compliance issues.  

Anne earned an undergraduate degree from the University of California, Berkley and a Juris Doctor from George Washington University, The National Law Center. She has made numerous presentations to professional and business groups as well as continuing education for attorneys focusing on Health Care Reform.  SERS is very pleased to welcome Anne to the organization.

Under this rule, the first day of paid school service for which employee contributions are received by SERS is the date that membership in SERS begins.

This new rule takes effect April 6, 2012.

You will still have access to the same medications, pharmacies, and clinical experts. You also can continue using the Express Scripts website.