Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
John S O'Brien, Director, Legislative Budget Board
IN RE:
HB1061 by Otto (Relating to the expiration of certain investment authority of the Teacher Retirement System of Texas.), As Introduced
No fiscal implication to the State is anticipated.
The bill would remove the statutory expiration date of September, 2012 for use of external managers and would re-authorize the TRS board of trustees to delegate investment authority over a portion of the assets of the Retirement Trust Fund to external managers. According to the agency, the bill would provide more flexibility with the TRS investment portfolio and increase the likelihood of TRS achieving a higher rate of return.
Local Government Impact
No fiscal implication to units of local government is anticipated.