All Texas pension systems once required to repair funding have met the state rule, the Pension Review Board told state budget officials Sept. 3.

No system faced an active Funding Soundness Restoration Plan requirement at the hearing. The PRB called that a first since the law took effect in 2015.

A Funding Soundness Restoration Plan, or FSRP, lists steps to improve a pension plan's funding. State law calls for one when a system triggers the state's funding standard.

The result does not mean every Texas pension plan is fully funded. It means each system that triggered the rule completed its plan with its sponsor.

The update came as the PRB presented its budget request for fiscal years 2028 and 2029. The Legislative Budget Board held the hearing.

The PRB oversees 354 public retirement systems. That count includes 101 defined benefit plans, which pay pensions based on a formula.

Those plans hold more than $400 billion and serve more than 3 million members.

Budget request focuses on technology and staff

The agency seeks $2.81 million in base funding for the two years. That amount includes a required 3% cut of $86,821.

The PRB asked lawmakers to restore that amount as its top extra request. The state calls funding above an agency's base request an exceptional item.

More than 90% of the PRB's operating budget pays staff. The agency chose cuts outside payroll to avoid losing a position.

Without the funds, the PRB said it would reduce outside technology support. It would also limit its trustee training portal, artificial intelligence tools and staff training.

The agency has no in-house information technology staff. Vendors support the systems used for pension reports, data and public records.

The PRB also asked for $105,626 to help retain skilled workers. It identified the chief actuary and senior investment analyst roles as hard to fill.

A third request seeks $16,508 for the executive director's position. It would fund a 5% raise and lift the salary cap from $170,000 to $176,839.

Together, the three exceptional items total $208,955.

Training portal reduces repeat work

Agency officials also described work funded by a one-time $700,000 appropriation approved in 2025. The projects include changes to the PRB's database, online reporting tools and public data center.

One key update lets pension systems check trustee training status and send reports online. PRB officials said the portal cuts repeat work for systems and agency staff.

The Minimum Educational Training program teaches trustees and plan staff about public pension duties. The PRB offers its online courses at no charge.

Executive Director Amy Cardona said she plans to leave the agency at the end of September. Deputy Director Ashley Rendon will serve as interim executive director.

TEXPERS staff monitored the hearing. No member of the public offered testimony.

About the Author: Allen Jones is the director of communications and event marketing for TEXPERS, where he leads editorial strategy, member communications, conference marketing, and digital engagement initiatives for Texas public employee retirement systems. He began his journalism career in 1998 and has worked in journalism and communications for more than 25 years.