Pension Review Board Seeks Comments on 10-point Objectives Regarding Funding Policy and FSRP Requirements

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By ALLEN JONES/TEXPERS Communications Manager

The Texas Pension Review Board is seeking feedback regarding changes it developed concerning legislative funding policy and funding soundness restoration plan statutes.

The Pension Review Board is a state agency charged with overseeing all state and local government public retirement systems in Texas concerning their actuarial soundness. The PRB's Actuarial Committee has outlined 10 objectives regarding the statues and is looking for comments from public pension systems and other interested parties. 

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In an Aug. 28 email from the PRB, the agency linked to a document of its proposed changes but pointed out that the reforms "are not fully developed."

"At this time, the PRB would appreciate comments, creative thoughts, and feedback on what is included in the document, or other ideas on how to accomplish the outlined objectives," according to the state agency's email, a copy of which is posted to the PRB's website.

The deadline to present public comments is Monday, Sept. 14. Email comments to prb@prb.texas.gov. The PRB's email states that agency staff is also available for discussion by phone. The PRB toll-free phone number is 800-213-9425.

PRB staff intends to submit comments to the Actuarial Committee during its scheduled meeting on Sept. 29, when the committee will determine which potential changes to the legislative statutes it will recommend to the agency's full Board of directors during a meeting on Nov. 12. The Board will then decide on the final legislative recommendations to present to the state Legislature.

To download the document, click here.

Below are the outlined changes presented in the document (click images to enlarge):

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