Owusu's NCAA eligibility was previously uncertain.
McLane skated in 87 games as a Nittany Lion.
The Buster Posey Award is given to the nation's top catcher.
Despite struggling early, Kerr recorded 31 kills in the Nittany Lions' semifinal victory.
The Nittany Lions advanced to the EIVA championship behind strong outings from John Kerr, Michael Valenzi, and Michal Kowal.
Penn State will now continue on to the Big Ten Tournament.