Texas Pension Review Board Chairman Josh McGee backed down from committing to a legislative effort to enable or require asset pooling for small pension systems. His comments, made at the tail end of the Oct. 4 PRB meeting, recognized concerns from TEXPERS Board President Paul Brown and board member David Stacy.
The Pension Review Board's Actuarial Committee postponed the agency's three-year effort to study the feasibility of asset pooling for smaller pension systems. Anumeha Kumar, the PRB's executive director, told the committee at its Sept. 13 meeting in Austin that the resignation of a staff member would further delay the project.
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