Delta Chi and Lambda Chi Alpha were both placed on interim suspension in late January.
The move comes as Penn State evaluates areas for financial and operational efficiency.
The State College beer festival is set to return on Sunday, May 24.
The inaugural theme of the festival is "Compete. Connect. Be Inspired."
At the 2024 Paris Olympics, Nedoroscik earned bronze in the men’s pommel horse and helped Team USA bring home bronze in the team event.
