* * *
Section 2. Section 8521(a) of Title 24 is amended to read:
§ 8521. Management of fund and accounts.
(a) Control and management of fund.--The members of the
board shall be the trustees of the fund. Regardless of any other
provision of law governing the investments of funds under the
control of an administrative board of the State government, the
trustees shall have exclusive control and management of the said
fund and full power to invest the same, in accordance with the
provisions of this section, subject, however, to the [exercise
of that degree of judgment, skill and care under the
circumstances then prevailing which persons of prudence,
discretion and intelligence who are familiar with such matters
exercise in the management of their own affairs not in regard to
speculation, but in regard to the permanent disposition of the
fund, considering the probable income to be derived therefrom as
well as the probable safety of their capital. The trustees shall
have the power to hold, purchase, sell, lend, assign, transfer,
or dispose of any of the securities and investments in which any
of the moneys in the fund shall have been invested as well as of
the proceeds of said investments, including any directed
commissions which have accrued to the benefit of the fund as a
consequence of the investments, and of any moneys belonging to
said fund, subject in every case to meeting the standard of
prudence set forth in this subsection.] prudent investor
provisions of 20 Pa.C.S. § 7203 (relating to prudent investor
rule).
Section 3. Section 5901(a) of Title 71 is amended and the
section is amended by adding subsections to read:
§ 5901. The State Employees' Retirement Board.
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