According to court documents, the lawsuit between Parshall and Penn State is still active and hasn't yet reached a verdict.
"The health, safety and well-being of all employees are key elements that are driving decisions, and we believe it is critical to hear from those who will be impacted."
A joint investigation found the university potentially made false claims to receive grant money and contracts.
Approximately $27.5 million will be distributed to students in need to help cover emergency expenses.
The board also announced Jay Paterno, Alice Pope, and Anthony Lubrano were elected to serve three-year terms beginning July 1.
Lowered summer session tuition rates will be voted on by the full board Friday.