In light of recent events surrounding COVID-19 and with the health and safety of the public of the utmost importance, the first meeting of the Sunset Commission scheduled for Thursday, April 30, 2020 has been cancelled. The meeting will be rescheduled at a later date. Please visit the meetings page for updated meeting information as it becomes available. The staff report and executive summary for Teachers Retirement System has been published. The executive summary states: “The Sunset review of the Teacher Retirement System of Texas (TRS) took place during a controversial period for the agency, with significant attention surrounding TRS’ decision to lease office space for its investment staff in a new, expensive building in downtown Austin. While TRS changed course on this decision in February 2020, the agency’s lack of transparency in making the initial decision highlighted growing mistrust from its members and some legislators. This controversy followed a successful legislative session for TRS and its members in 2019, with the Legislature increasing contribution levels and authorizing a one-time supplemental payment for retirees. Unlike most state agencies Sunset reviews, TRS is constitutionally created and not subject to abolishment. The Sunset review therefore did not consider the question of the fundamental need for the agency, but instead whether TRS operates efficiently, effectively, and in the best interest of its members. TRS’ 1.6 million members span a broad range of Texas teachers and other public education staff, who depend on TRS to ensure they can retire securely.”
