On Feb. 13, 2025, Texas House Speaker Dustin Burrows announced committee assignments for the 89th Legislature, a decision that will shape the direction of key financial and pension-related policies in the state. Among the most critical assignments for Texas public employee pension system stakeholders is the Pensions, Investments & Financial Services Committee (PIFS). This committee oversees legislation related to state and local retirement systems, financial institutions, and investment policies that impact pension funds.

TEXPERS members—including trustees and administrators of public employee pension systems, as well as the professionals who service them—should take note of the appointed leadership and committee members, as they will play a crucial role in shaping the policies that affect pension funds and investment strategies in Texas.

According to The Texas Tribune, "Texas House committee assignments extend power of experienced GOP leaders," highlighting the influence Speaker Burrows' selections may have on legislative priorities (Texas Tribune).

Committee Leadership

Chair: Rep. Stan Lambert (R-Abilene)

Rep. Stan Lambert represents House District 71, which includes Taylor, Nolan, Jones, and Callahan Counties. First elected in 2017, he is serving his fourth term in the Texas House of Representatives. Lambert has a banking and financial services background, with over 35 years of experience in the industry. He retired from Texas Heritage Bank.

Before his legislative career, Lambert served as Mayor of Ennis, Texas, and as a member of the Abilene Independent School District Board of Trustees. He also worked as the Athletic Director at Abilene Christian University. Lambert has served on various committees in the Legislature, including the Energy Resources Committee, the Insurance Committee, and the Texas Sunset Advisory Commission. In the 88th Legislative Session, he was appointed Vice-Chair of the Pensions, Investments, and Financial Services Committee and was a member of the House Committee on Business and Industry.

Lambert holds a bachelor's degree in business from Abilene Christian University and a graduate certification in banking from the Southwestern Graduate School of Banking.

Vice-Chair: Rep. Mihaela Plesa (D-Collin County)

Rep. Mihaela Plesa represents House District 70, which includes parts of Dallas, Plano, Richardson, and Allen. She is the first-generation daughter of Romanian immigrants who came to the United States seeking opportunities. Before entering politics, she owned a fashion merchandising and design business that supported Texas-based products and small business entrepreneurs.

Plesa transitioned to public service as a legislative director, working through multiple regular and special sessions, including the 2021 redistricting process. During her tenure, she expanded the Texas Maternal Mortality and Morbidity Task Force, increased Medicaid coverage to Brooke Army Medical Center, and supported a constitutional amendment providing property tax exemptions for Gold Star families.

Elected in 2022, Plesa has focused on increasing public school funding, reducing property taxes, and advocating for small business growth. She attended Texas public schools, earning degrees from the University of North Texas and Southern Methodist University. Plesa is the first Democratic woman to represent Collin County in the Texas Legislature and the first Romanian-American elected in Texas.

Committee Members

• Rep. John Bryant (D-Dallas): Rep. Bryant previously served in the Texas House and the U.S. Congress and has a law and public policy background.
• Rep. Ben Bumgarner (R-Flower Mound): Rep. Bumgarner has experience in business and local government.
• Rep. Linda Garcia (D-Dallas): Rep. Garcia is a first-term legislator representing District 107.
• Rep. Richard Hayes (R-Denton): Rep. Hayes has a professional financial management and legal affairs background.
• Rep. Janis Holt (R-Silsbee): Rep. Holt has experience in public policy and local government administration.
• Rep. Alan Schoolcraft (R-San Antonio): Rep. Schoolcraft has a financial oversight and governance background.
• Rep. Hubert Vo (D-Houston): Rep. Vo is a long-serving legislator with experience in business and financial services.

What This Means for TEXPERS Members

The Pensions, Investments & Financial Services Committee will be a key player in legislative discussions impacting Texas public pension systems. From potential reforms to pension funding strategies, investment regulations, and financial transparency measures, the actions of this committee will have direct implications for the retirement security of Texas' public employees.

TEXPERS will continue to monitor committee activities and advocate for sound pension policies that ensure the financial health and sustainability of the public pension systems that serve Texas' firefighters, police officers, teachers, and other public employees.

For more details on the committee assignments, KXAN has published coverage of Speaker Burrows' announcement (KXAN). Additionally, Austin American-Statesman provides a visual breakdown of the assignments (Statesman).

Stay engaged with TEXPERS as we provide updates on legislative developments and opportunities for advocacy. If you have concerns or insights regarding pension legislation, we encourage you to reach out to committee members and share your perspectives.

For more information and ongoing updates, visit TEXPERS' website and follow us on our social media channels.

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