The author of a new brief from the Center for Retirement Research at Boston College finds that state and local pension plans should focus on stabilizing their pension debt as a share of the economy rather than full funding. The alternative of fully prefunding state and local pensions to maintain fiscal sustainability will mean big contribution hikes. 

The 88th Texas Legislative Session is in full swing, with lawmakers proposing and debating bills that could significantly impact public employee pension plans.

UPDATE 1/10/23 - Texas' 88th legislative session adjourned on Jan. 10 after completing opening ceremonies during which Gov. Greg Abbott congratulated newly elected and re-elected members of the House and Senate as well as Rep. Dade Phelan, R-Beaumont, who was reelected today as House Speaker for the session.

The Governmental Accounting Standards Board has formed a task force to assist with a project to address disclosure issues related to going concerns, uncertainties, and severe financial stress plan sponsors may be facing.

The Texas Pension Review Board meets at 10 a.m. CT on Thursday, Oct. 6, 2022, in Austin at the Capitol Extension, Room E2.028, located at 1100 Congress Avenue. 

TEXPERS has a section on its website where it publishes requests for proposals, those public documents that announce a project and invite proposals from service providers. 

There are 1.07 million minority-owned firms in the United States with 9.3 million employees and $344.5 billion in annual payroll, according to the 2019 Annual Business Survey.

This report, compiled by TEXPERS legislative consultants and staff in attendance, is intended to give you an overview and highlight the discussions on the various topics taken up. It is not a verbatim transcript of the discussions but based on what was audible or understandable to the observer and the desire to get details out as quickly as possible with few errors or omissions.

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. 

What do pension funds in Australia, France, Sweden and Texas have in common? Definitely not their asset allocation, level of transparency, governance system or cost structure.