The Texas Pension Review Board will meet on Wednesday, Sept. 30, at 10 a.m. in Austin, followed by a meeting of the PRB Investment Committee at 2 p.m. or upon adjournment of the board meeting, whichever occurs later. Both meetings will be open to the public and available online.

Several agenda items could affect the governance, reporting, education, funding and investment responsibilities of Texas public retirement systems. TEXPERS System Members may want to review the agendas and attend in person or follow the meetings online.

The PRB is an independent state agency responsible for reviewing state and local public retirement systems for actuarial soundness and compliance with state reporting requirements.

Sept. 30 PRB Board Meeting Agenda

The Sept. 30 Texas Pension Review Board meeting agenda includes several matters directly relevant to TEXPERS System Members.

The board is scheduled to receive its Actuarial Valuation Report and Funding Soundness Restoration Plan Report. Although closely related, the reports serve different purposes.

Actuarial Valuation Report: An actuarial valuation is a periodic financial assessment prepared by a pension system’s actuary. It compares the system’s assets with the projected cost of benefits, estimates its funded status and funding period, and evaluates the contributions needed to meet long-term obligations.

The PRB’s Actuarial Valuation Report updates the board on valuations received from Texas public retirement systems. The information helps trustees, administrators, plan sponsors and state officials identify funding trends, evaluate contribution policies and recognize potential financial concerns.

Funding Soundness Restoration Plan Report: A Funding Soundness Restoration Plan, or FSRP, is developed jointly by a financially distressed retirement system and its governmental sponsor to improve the system’s funding status. State law requires an FSRP when a system meets certain actuarial funding triggers.

The PRB’s FSRP Report provides updates on systems that have submitted plans and their compliance with applicable requirements. These plans establish corrective steps intended to strengthen long-term funding, protect promised benefits and reduce the risk that funding challenges will worsen over time.

The board may also act on amendments to state rules governing FSRPs, consider legislative recommendations related to the plans and review an intensive study of the FSRP submission timeline.

Additional agenda items include:

• Public retirement system reporting and compliance
• Proposed changes to the Minimum Educational Training program
• Draft updates to the Model Ethics and Conflict-of-Interest Policy for Texas Public Retirement Systems
• An agency legislative update
• The PRB’s 2025-2026 Biennial Report
• Appointment of an interim executive director and discussion of the search for new agency leadership

The proposed education changes are of particular interest to TEXPERS and its members. TEXPERS is an Accredited Training Provider of the Pension Review Board and offers Core and Continuing Education credit hours under the PRB’s Minimum Educational Training program.

The board may discuss or take action on any item listed on the agenda.

View the Sept. 30 Texas Pension Review Board meeting agenda.

Members can find additional background through the PRB’s Actuarial Reports and Funding Soundness Restoration Plan resources.

Sept. 30 PRB Investment Committee Agenda

The PRB Investment Committee is scheduled to receive an updated Investment Data Report and discuss agency research involving:

• Capital markets
• Investment liquidity
• Investment expense data

Following the committee’s discussion can help trustees and administrators understand the investment information the PRB is reviewing. It may also provide early insight into subjects that could influence future agency research, reporting guidance or policy discussions.

View the Sept. 30 PRB Investment Committee meeting agenda.

Why TEXPERS System Members Should Attend or Watch

Texas Pension Review Board meetings give trustees, administrators and other public pension stakeholders a direct look at state-level discussions that can shape the operating environment for Texas retirement systems.

Attending or watching the livestream can help TEXPERS System Members:

• Learn about proposed rules, policies or reporting changes
• Understand how the PRB evaluates pension funding and compliance
• Follow possible changes to trustee and administrator education requirements
• Monitor investment research and statewide data trends
• Hear legislative recommendations ahead of the 2027 legislative session
• Anticipate questions from boards, plan sponsors, policymakers and members
• Share timely developments with their own boards and staff

The discussions can be useful even when a retirement system is not specifically identified in an agenda item. PRB meetings often provide early insight into broader oversight priorities and expectations affecting public retirement systems across Texas.

How to Attend the PRB Meetings or Watch Online

Both meetings will be held at:

William P. Clements Building
Fourth Floor, Room 402
300 W. 15th St.
Austin, TX 78701

Virtual meeting access will also be available:

• Texas Pension Review Board meeting: 10 a.m. — Join through Zoom.
• PRB Investment Committee meeting: 2 p.m. or following adjournment of the board meeting, whichever occurs later — Join through Zoom.

Livestreams, meeting materials, and recordings will be available on the PRB Board and Committee Meetings page.

Members of the public who want to provide comments remotely must contact Jessimond McLaughlin at [email protected] no later than Monday, Sept. 28. Public comments are limited to three minutes.

About the Texas Pension Review Board

Created by the Texas Legislature in 1979, the Texas Pension Review Board reviews state and local public retirement systems. In addition to monitoring actuarial soundness and state reporting compliance, the PRB provides information and recommendations to the state, develops guidance and model policies, and supports the education of public pension trustees and administrators.

The agency describes itself as Texas’ sole ongoing oversight mechanism for public retirement systems. According to information posted by the PRB and last updated July 22, 2026, its oversight encompasses 355 retirement systems representing approximately $424 billion in net assets and 3.6 million members.

Learn more about the Texas Pension Review Board and its responsibilities.

About the Author: Allen Jones is the director of communications and event marketing for TEXPERS, where he leads editorial strategy, member communications, conference marketing, and digital engagement initiatives for Texas public employee retirement systems. He began his journalism career in 1998 and has worked in journalism and communications for more than 25 years.