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4 Document(s) [ Subject: Bonds ]

Committee: House Pensions, Investments, and Financial Services
Title: Interim Report
Subjects: Bonds | County government | Employees Retirement System of Texas | Foreign investments | Pension Review Board, Texas | Public retirement systems | Russia | Tax evasion | Teacher retirement | Teacher Retirement System of Texas |
Library Call Number:
Session: 87th R.S. (2021)
Online version: View report [44 pages  File size: 1,440 kb]
Charges: This report should address the charges below.
1. Monitor the agencies and programs under the Committee's jurisdiction and oversee the implementation of relevant legislation passed by the 87th Legislature. Conduct active oversight of all associated rulemaking and other governmental actions taken to ensure the intended legislative outcome of all legislation, including the following:
  • HB 1258, 87th R.S., relating to data matching with financial institutions to facilitate the collection of certain delinquent taxes;
  • HB 1585, 87th R.S., relating to the operations and functions of the Teacher Retirement System of Texas;
  • HJR 99, 87th R.S., proposing a constitutional amendment authorizing a county to finance the development or redevelopment of transportation or infrastructure in unproductive, underdeveloped, or blighted areas in the county; authorizing the issuance of bonds and notes; and
  • SB 1444, 87th R.S., relating to participation in the uniform group coverage program for active school employees and to a study concerning health coverage for school district employees.
2. Review and evaluate the actuarial soundness of the Employees Retirement System (ERS) and Teacher Retirement System (TRS) pension funds.
3. Review the Texas Local Fire Fighters Retirement Act to ensure proper governance and financial oversight. Examine whether the Pension Review Board has proper oversight and authority to implement necessary corrective measures.
4. Evaluate the actuarial soundness of the Law Enforcement and Custodial Officer Supplemental Retirement Fund and Judicial Retirement System of Texas Plan 2. Identify strategies to reduce and eliminate existing unfunded liabilities and recommend structural enhancements that improve the financial health and viability of the funds moving forward.
5. Review the impact of investments by public retirement systems of their endowment and other trust funds in businesses and funds owned or controlled by the Russian government or Russian nationals, and determine the need for investment restrictions. Consider the impact of any proposed investment restrictions on fund performance.
Supporting documents
Committee: House Pensions, Investments, and Financial Services
Title: Committee meeting handouts and testimony, June 6, 2022
Library Call Number:
Session: 87th R.S. (2021)
Online version: View document [64 pages  File size: 7,128 kb]
Committee: House Pensions, Investments, and Financial Services
Title: Committee meeting handouts and testimony, August 16, 2022
Library Call Number:
Session: 87th R.S. (2021)
Online version: View document [66 pages  File size: 1,886 kb]
Committee: House Pensions, Investments, and Financial Services
Title: Committee meeting handouts and testimony, August 25, 2022
Library Call Number:
Session: 87th R.S. (2021)
Online version: View document [68 pages  File size: 5,738 kb]

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