Important Update: Texas Pension Review Board Meeting on Sept. 25, 2024
Attention TEXPERS System Members: As trustees and administrators of public employee pension systems across Texas, staying informed on key developments affecting your retirement plans is essential. The Texas Pension Review Board will be holding its next meeting on Wednesday, Sept. 25, 2024, at 10 a.m. The meeting will occur at the William P. Clements Building, Fourth Floor, Room 402, located at 300 W. 15th Street in Austin, Texas.
What is the Pension Review Board?
The Texas Pension Review Board is the state agency responsible for overseeing and ensuring the sound administration of public retirement systems in Texas. The PRB monitors the financial health, actuarial soundness, and compliance of public pension plans. It also provides guidance and recommendations to help maintain the sustainability of these systems and works with lawmakers to assess the impact of pension-related legislation.
As a TEXPERS System Member, this meeting allows you to remain updated on issues affecting the retirement systems you help manage.
Meeting Details:
- Date: Wednesday, Sept. 25, 2024
- Time: 10:00 a.m.
- Location: William P. Clements Building, Room 402, 300 W. 15th Street, Austin, TX, 78701
- Virtual Access: Join the meeting via Zoom using this link. A livestream and recording will be available at www.prb.texas.gov.
Key Agenda Items for TEXPERS System Members:
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Plan Updates: Critical updates from the Austin Firefighters Retirement Fund, Midland Firemen’s Relief and Retirement Fund, and Nacogdoches County Hospital District Retirement Plan.
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Committee Reports:
- Education Committee: Discussion on new rules for minimum educational training for trustees and administrators, a key area for TEXPERS members.
- Investment Committee: Review of investment expense reporting and recommendations on Investment Practices and Performance Evaluations.
- Actuarial Committee: Updates on actuarial valuation, Funding Soundness Restoration Plans (FSRP) compliance for public retirement systems, and possible action to adopt Texas Local Fire Fighters Retirement Act (TLFFRA) governance recommendations.
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Administrative Updates:
- Executive Director’s report, including legislative updates and the FY 2025 Operating Budget.
- Updates on the Pension Online Reporting Tool and future PRB meeting arrangements.
Public Comment Opportunities: If you want to provide public comments, you may do so in person or via Zoom. To comment remotely, contact Lindsay Seymour ([email protected]) by Tuesday, Sept. 24, 2024. Comments will be limited to three minutes.
This meeting is crucial for TEXPERS System Members to stay informed and involved in important discussions on the policies and regulations shaping public pensions in Texas. Your participation, whether in person or online, ensures that you are prepared for potential legislative and compliance changes that may impact your fund.
For more information or to review the full agenda, visit PRB’s website.
About the Author:
Allen Jones is the director of communications and event marketing for TEXPERS. He joined the Association in 2017. Before TEXPERS, he worked in the news media industry, producing content for newspapers, magazines, and online publications and leading newsrooms as an editor and publications manager. [email protected]