UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
 (Amendment No.      )*
------

Innovative Solutions and Support, Inc.
--------------------------------------------------------------------
 (Name of Issuer)

Common Stock
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 (Title of Class of Securities)

45769N105
----------------------------------
 (CUSIP Number)

January 31, 2001
- ------------------------------------------------------------------
 (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:

     /X/ Rule 13d-1(b)

     / / Rule 13d-1(c)

     / / Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures
provided in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the
Notes).

POTENTIAL PERSONS WHO ARE TO RESPOND TO
THE
COLLECTION OF INFORMATION CONTAINED IN THIS
FORM ARE NOT REQUIRED TO RESPOND UNLESS
THE FORM DISPLAYS A CURRENTLY VALID OMB
CONTROL NUMBER.

CUSIP No. 45769N105
          ---------
- ---------------------------------------------------------------
 (1) Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Commonwealth of Pennsylvania, Public School
     Employees Retirement System
     23-1739115
- ---------------------------------------------------------------
 (2) Check the Appropriate Box if a Member	(a)  / /
       of a Group (See Instructions)                       (b)  / /

     Not applicable
- ----------------------------------------------------------------
 (3) SEC Use Only


- ----------------------------------------------------------------
 (4) Citizenship or Place of Organization

     Commonwealth of Pennsylvania
- -----------------------------------------------------------------
 Number of Shares      (5) Sole Voting Power
 Beneficially                                       772,892
 Owned by                   ----------------------------------------
 Each Reporting           (6) Shared Voting Power
 Person With:                            Not Applicable
                                    ----------------------------------------
                                     (7) Sole Dispositive Power
                                                           772,892
                                    ----------------------------------------
                                     (8) Shared Dispositive Power
                                                 Not Applicable
- -----------------------------------------------------------------
(9)  Aggregate Amount Beneficially Owned by Each
       Reporting Person

        772,892
- -----------------------------------------------------------------
(10)  Check if the Aggregate Amount in Row (9) Excludes
        Certain Shares (See Instructions)     / /

         Not applicable
- ----------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)

         5.93%
- -----------------------------------------------------------------
(12) Type of Reporting Person (See Instructions)

        EP
- -----------------------------------------------------------------

ITEM 1.

    (a)   Name of Issuer

            Innovative Solutions and Support, Inc.

    (b)   Address of Issuer's Principal Executive Offices

            720 Pennsylvania Drive
            Exton, Pennsylvania  19341


ITEM 2.

    (a)   Name of Person Filing

            Commonwealth of Pennsylvania, Public School
            Employees Retirement System

(b)  Address of Principal Business Office or, if none,
       Residence

            5 North 5th Street
            Harrisburg, Pennsylvania  17101

    (c)   Citizenship

            Commonwealth of Pennsylvania

    (d)   Title or Class of Securities

             Common Stock

    (e)   CUSIP Number

             45769N105

ITEM 3.  IF THIS STATEMENT IS FILED PURSUANT TO
SECTIONS 240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK
WHETHER THE PERSON FILING IS A:

(a)  / / Broker or dealer registered under section 15 of the
            Act (15 U.S.C. 78o).

(b)  / / Bank as defined in section 3(a)(6) of the Act
           (15 U.S.C. 78c).

(c)  / / Insurance company as defined in section 3(a)(19)
           of the Act (15 U.S.C. 78c).

(d)  / / Investment company registered under section 8 of
            the Investment Company Act of 1940
            (15 U.S.C. 80a-8).

(e)  / / An investment adviser in accordance with section
            240.13d-1(b)(1)(ii)(E).

(f)  /X/ An employee benefit plan or endowment fund in
             accordance with section 240.13d-1(b)(1)(ii)(F).

(g)  / / A parent holding company or control person in
            accordance with section 240.13d-1(b)(1)(ii)(G).

(h)  / / A savings association as defined in section 3(b) of
            the Federal Deposit Insurance Act (12 U.S.C. 1813).

(i)  / / A church plan that is excluded from the definition
            of an investment company under section 3(c)(14) of
            the Investment Company Act of 1940
            (15 U.S.C. 80a-3).

(j)  / / Group, in accordance with section
            240.13d-1(b)(1)(ii)(J).


ITEM 4.  OWNERSHIP

Provide the following information regarding the aggregate
number and percentage of the class of securities of the issuer
identified in Item 1.

    (a) Amount beneficially owned:

          772,892

    (b) Percent of class:

          5.93%

    (c) Number of shares as to which the person has:

          (i) Sole power to vote or to direct the vote

                772,892

         (ii) Shared power to vote or to direct the vote

               NOT APPLICABLE

        (iii) Sole power to dispose or to direct the disposition of

               772,892

(iv)  Shared power to dispose or to direct the
       disposition of

              NOT APPLICABLE





ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF
A CLASS

If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following.  / /


ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT
ON BEHALF OF ANOTHER PERSON

                NOT APPLICABLE


ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF
THE SUBSIDIARY WHICH ACQUIRED THE SECURITY
BEING REPORTED ON BY THE PARENT HOLDING
COMPANY

                NOT APPLICABLE


ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF
MEMBERS OF THE GROUP

                NOT APPLICABLE


ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

                NOT APPLICABLE


ITEM 10. CERTIFICATION

(a)  The following certification shall be included if the
       statement is filed pursuant to section 240.13d-1(b):

By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above
were acquired and are held in the ordinary course of
business and were not acquired and are not held for
the purpose of or with the effect of changing or
influencing the control of the issuer of the securities
and were not acquired and are not held in connection
with or as a participant in any transaction having that
purpose or effect.

(b)  The following certification shall be included if the
        statement is filed pursuant to section 240.13d-1(c):

By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above
were not acquired and are not held for the purpose of
or with the effect of changing or influencing the
control of the issuer of the securities and were not
acquired and are not held in connection with or as a
participant in any transaction having that purpose or
effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
is true, complete and correct.

                                             02/01/2002
                             ----------------------------------------
                                                Date

                                /s/ James H. Grossman, Jr.
                             ----------------------------------------
                                              Signature

          James H. Grossman, Jr./Acting Chief Investment Officer
                             ----------------------------------------
                                             Name/Title