Texas Pension Review Board and Committee to Gather July 14 in Separate Meetings

The Texas Pension Review Board is holding a board meeting at 10 a.m. CST on Thursday, July 14, 2022. The Board's Investment Committee will gather later that afternoon.

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Longtime Pensions Advocate Robert May Dies May 24 'Peacefully Surrounded by Family'

Robert "Bob" May, a former actuary member of the Texas Association of Public Employee Retirement Systems through his more than 50-year career as a principal actuary at Rudd and Wisdom Inc., died May 24, 2022. 

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Amundi Serves as Gold Keynote Sponsor During TEXPERS' Annual Educational Forum

Amundi Asset Management is serving as a Gold Keynote Sponsor of TEXPERS' 2022 Summer Educational Forum to be held Aug. 21-23, 2022, in El Paso, Texas.

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TerraCap Management Serves as Gold Sponsors During TEXPERS' Annual Educational ForumTerraCap Management Serves as Gold Sponsors During TEXPERS' Annual Educational Forum

TerraCap Management is a Gold Keynote Sponsor of TEXPERS' 2022 Summer Educational Forum to be held Aug. 21-23, 2022, in El Paso, Texas, and is sending its founder, W. Stephen Hagenbuckle as a keynote speaker for the event’s opening session.

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Risk Tolerance and Investment Strategy for Public Pension Plans

Interest rates have been on a secular decline since the early-1980s after Paul Volcker pushed short-term rates to nearly 20% to beat back inflation.  Today, by comparison, the Fed Funds rate is targeted between 0.25% and 0.50%.  Unfortunately, as interest rates fell, pension discount rates have barely budged, leading to a widening “yield gap” between what plan fiduciaries expect to receive from the market and what the market can realistically provide.

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Russia: A Cathartic Moment for Emerging Markets?

Numerous market commentaries and opinion columns since Russia’s invasion of Ukraine have highlighted the fading investor perception of emerging-market assets. The story so far has played true to the worst emerging market stereotypes that global investors dread. A leader who started by promising stability and prosperity ends up as a thuggish strongman, callous enough to sacrifice the future of his own people in a destructive quest for glory. A country with vast resources and growth potential sliding rapidly down into economic desolation. Global investors who saw the promise and poured in billions, only to see it all evaporate in a matter of days. Political maneuvering by other countries spreads the risk perception and triggers investor panic elsewhere. We have seen parts of this storyline in the past, albeit on a smaller scale.  

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The Evolving Emerging Market Debt Opportunity

Experience in emerging markets (EM) teaches the importance of knowing when to react quickly and when to ride out the storm.

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Sunbelt Multifamily Remains Red Hot, But, for Opportunity, Go West!

“Go West, Young Man, and Grow Up with the Country!”  The famous line from Horace Greeley’s most famous editorial was about capturing and capitalizing on the opportunity and pioneering spirit in the West. Greeley’s East was crowded and stagnant, and the best opportunities and growth lay west of the Mississippi. The availability of exciting, new opportunities and entrepreneurism in the West still applies just as much today, especially for investors.

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The Case for U.S. Hydrocarbons During Today's Energy Crisis

It’s hard to miss recent news headlines about the “global energy crisis.” Resilient global demand and a lack of sufficient available supply have created an energy crunch that has pushed up global energy prices. Soaring oil, natural gas, and coal prices are happening just as the winter heating season approaches in the Northern Hemisphere and as rising inflation poses an increasing risk to global economic growth.

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Are You a Rental Property Owner Thinking of Selling?

I began my career in 1994 marketing investment management services to public retirement systems in Texas and throughout the United States. I write this article to share a unique retirement planning concept for both active and retired public employees. 

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Austin Retirement Fund Seeks RFQ for Pension Admin and Support Services

Information received in response to this Request for Qualifications will also assist the Austin Fire Fighters Relief and Retirement Fund staff in finalizing the scope of work and requirements that may be used at a future date in the issuance of a Cost Proposal or Request for Proposal, according to the RFQ document issued by the Fund. Download the document here

Bridging the Gap to a Cleaner Future

When it comes to tackling climate change, there is some consensus around what needs to be done—but solving for the how is much more complicated. In some ways, the urgency around this question has intensified amid the conflict between Russia and Ukraine. While extremely concerning from a humanitarian perspective, the conflict has also accelerated the thinking around energy security and energy independence.

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Emerging Market Equities: Four Reasons for Optimism in 2022

Emerging markets endured a challenging 2021, dragged down mostly by China and South Korea, which represent close to half the index. But the developing world is diverse, and many individual countries did well. We expect improvement on several fronts in 2022, and the outperformance of EM over developed markets in January—despite turbulent market performance—is also encouraging.

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The Shift to the Cloud

We believe the COVID-19 crisis has facilitated a fundamental reshaping of society in how people shop and pay, along with how businesses interact with their employees, customers, and other businesses.

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The Difference in Impact of Inflation on Public and Corporate Pension Plans

The impact of inflation on defined benefit pension plan liabilities might surprise you. For private plans, the news is mostly good. For public plans, it is more challenging and provides a good reminder that public plan sponsors need to keep making their full pension contributions even if times are difficult.

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House Pensions Committee Seeks Public Testimony

The Texas House Pension, Investments and Financial Services Committee is hosting a public hearing at 10 a.m. CT on Monday, June 6, 2022, regarding the operation of the Teacher Retirement System of Texas and its school district employee benefits program participation. 

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Upcoming Interim Legislative Hearings

Below is a list of upcoming or recently held interim Texas legislative hearings TEXPERS' System Members and others interested in managing public employee pensions in the state might be interested in following. The topics either directly or indirectly impact pension management or governance issues. 

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Remembering Law Enforcement's Fallen Officers

This week, law enforcement officers from Fort Worth, Mesquite, and the Texas Department of Public Safety are traveling to Washington, D.C., to take part in a memorial service during National Police Week to honor their colleagues who died serving their communities.

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PRB Posts Draft Rule Language and Board Policy Related to Funding Soundness Restoration Plans

The Texas Pension Review Board has posted the draft rule language and board policy related to Funding Soundness Restoration Plans to the state agency's website. 

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May 1-7 is Public Service Recognition Week 2022

There are an estimated 15.1 million full-time and 4.7 million part-time employees working in state and local governments in the U.S., according to the 2020 Annual Survey of Public Employment and Payroll, the most recent statistics available from the U.S. Census Bureau. 

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