Amend CSSB 1952 by adding the following appropriately 
numbered ARTICLE to PART 1 of the bill and renumbering subsequent 
ARTICLES in PART 1 accordingly:

ARTICLE _____.  RETIREMENT SYSTEM OVERSIGHT BOARD
	SECTION _____.01.  Subtitle A, Title 8, Government Code, is 
amended by adding Chapter 806 to read as follows:

CHAPTER 806.  RETIREMENT SYSTEM OVERSIGHT BOARD
	Sec. 806.001.  DEFINITIONS.  In this chapter:                           
		(1)  "Oversight board" means the retirement system 
oversight board.  
		(2)  "State retirement system" means the Employees 
Retirement System of Texas, the Judicial Retirement System of Texas 
Plan One, the Judicial Retirement System of Texas Plan Two, and the 
Teacher Retirement System of Texas.  The term does not include the 
optional retirement program governed by Chapter 830.
	Sec. 806.002.  COMPOSITION OF BOARD; OFFICERS; MEETINGS.  (a)  
The oversight board is composed of five members as described by this 
section.
	(b)  The governor, the lieutenant governor, the speaker of 
the house of representatives, the comptroller, and the attorney 
general, or the designees of those officials, serve as ex officio 
voting members of the oversight board.  Service on the oversight 
board is an additional duty of the positions of those officials.
	(c)  The oversight board shall elect from its members a 
presiding officer and other officers the oversight board considers 
necessary to perform the oversight board's duties.
	(d)  The oversight board shall meet at the call of the 
presiding officer.
	Sec. 806.003.  OVERSIGHT BOARD DUTIES.  (a)  The oversight 
board shall monitor the management of state retirement system 
assets to ensure that each state retirement system is managing its 
assets in accordance with applicable constitutional and statutory 
provisions and applicable actuarial and investment principles.
	(b)  An employee, officer, or member of the board of trustees 
of a state retirement system shall provide to a member of the 
oversight board any information, other than information that is 
confidential under other law, that the oversight board member 
requests to carry out the oversight board's duties under this 
section.
	(c)  An oversight board member may attend any regular, 
special, or called meeting of the board of trustees of a state 
retirement system to carry out the oversight board's duties under 
this section.
	Sec. 806.004.  REIMBURSEMENT FOR EXPENSES.  An oversight 
board member may not receive compensation for service on the 
oversight board but is entitled to reimbursement of travel expenses 
that the member incurs while conducting the business of the 
oversight board, as provided by the General Appropriations Act.