context clearly indicates otherwise:
"Commonwealth agency." A department, board, commission,
agency, authority or other instrumentality of the Commonwealth.
"Designee." An individual appointed by, and authorized by
law to act in the stead of, a trustee, board member or other
appointed or elected official that stands in a fiduciary
relationship to the members and beneficiaries of a State fund or
a fund of a public pension system.
"Public pension system." The Public School Employees'
Retirement System, the State Employees' Retirement System, the
Pennsylvania Municipal Retirement System and any pension plan
maintained by a municipality or a county for its employees.
"State fund." A fund or account in the State Treasury or
under the care, custody or control of a Commonwealth agency.
§ 7402. Training requirements.
(a) Training.--A trustee, board member or other appointed or
elected official who stands in a fiduciary relationship to the
members and beneficiaries of a State fund or a fund of a public
pension system, or a designee thereof, shall complete training
in fiduciary law, as provided in subsection (b).
(b) Requirements.--
(1) An individual appointed or elected to a position
described in subsection (a) after the effective date of this
section shall complete:
(i) Two hours of training in fiduciary law within
one year of the date of appointment to the position.
(ii) One hour of training in fiduciary law annually,
each year thereafter.
(2) An individual who holds a position described in
subsection (a) on the effective date of this paragraph is
20230HB1460PN1645 - 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30