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Senate Bill 483 |
Senate Author: Schwertner et al. |
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Effective: 9-1-21 |
House Sponsor: Parker |
Senate Bill 483 amends the Government Code to require the governing bodies of the Employees Retirement System of Texas and the Teacher Retirement System of Texas to provide a biennial report that details and compares the assumed rate of return and the annualized actual time‑weighted rate of return achieved by the respective retirement system for the most recent 1‑year, 5‑year, 10‑year, and 20‑year fiscal periods. The report may be combined with any other report required by law and must be submitted to the governor, lieutenant governor, and each member of the legislature not later than December 31 of each even‑numbered year.