PRB Actuarial Committee discusses Funding Soundness Restoration Plans

TEXPERS STAFF REPORT

UPDATED AUG. 6, 2020 - The Texas Pension Review Board's Actuarial Committee convened through teleconference at 10 a.m. CST on Thursday, Aug. 6. 

View a recording of the meeting:

According to the agenda, the committee discussed systems subject to the Funding Soundness Restoration Plan (FSRP) requirement, including the following:

• Update on second FSRP from the City of Orange and Orange Firemen's Relief and Retirement Fund.
• Update on revised FSRP from City of Midland and Midland Firemen's Relief and Retirement Fund.

Also on the agenda:

• A discussion of funding policies received by Government Code Section 802.2011 (Senate Bill 2224), including actuarially determined contribution benchmarks based on rolling amortization periods.
• A review of funding policy requirement under Section 802.2011 and FSRP requirements under Sections 802.2015 and 802.2016 of the Government Code.

> AGENDA:  Click here for the agenda and meeting packet.

The Texas Pension Review Board is mandated to oversee all Texas public retirement systems, both state and local, in regard to their actuarial soundness and compliance with state law. TEXPERS is putting together a more in-depth report on the meeting to be posted soon.

> PRB MEETINGS: Find future meeting dates and past agenda packets.