LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION

March 14, 2011

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	John S O'Brien, Director, Legislative Budget Board
IN RE:	HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Introduced

No fiscal implication to the State is anticipated.

The bill increases the allowable amount that the Teacher Retirement System (TRS) can invest in hedge funds from 5 percent to 10 percent of the total investment portfolio.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

323 Teacher Retirement System

LBB Staff:

JOB, AG, JGM, JW