House Committee requests written submissions regarding public pension charges

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By TEXPERS STAFF

TEXPERS system members have until 5 p.m. CT on Friday, Aug. 28, to provide written responses regarding interim charges of the House Committee on Pensions, Investments, and Financial Services.

The committee issued a notice of formal request for information on Tuesday, Aug. 4, stating that due to the uncertainty of scheduling interim hearings during the novel coronavirus pandemic, it is seeking written submissions from interested parties and the public regarding three charges.

> NOTICE: Access the formal committee request.

According to its notice, the House Committee is seeking responses on the following charges:

• Interim Charge 2: Monitor the Teacher Retirement System’s actions in implementing high deductible regional plans for certain school districts interested in providing alternatives to the current TRS-ActiveCare options.
• Interim Charge 4: Review and evaluate the actuarial soundness of the Employees Retirement System and TRS pension funds. Examine the cost of and potential strategies for achieving and maintaining the actuarial soundness of the funds. Examine the effect the unfunded liabilities could have on the state’s credit. Examine the state’s investment policies and practices, including investment objectives, targets, disclosure policies, and transparency.
• Interim Charge 5: Monitor the State Auditor’s review of agencies and programs under the committee’s jurisdiction.

TEXPERS members who would like to provide their opinions on the charges should email them to jason.briggs@house.gov. Written responses should be submitted in Word format, limited to six pages of text. The page limit does not include photos, graphs, spreadsheets, or charts supporting the submissions. All submissions must include the name of the submitter, organization or entity they are with, their mailing address, email, and phone number.

After the submission deadline, received written responses are to be shared with each member of the committee. A copy of all submitted comments also will be made available to the public.

Part of the House Committee on Pensions, Investments, and Financial Services’ commission is to preside over matters about benefits or participation in benefits on a public retirement system and the financial obligations of a public retirement system. The 11-member committee is chaired by Rep. Jim Murphy, R-Houston.