CSHB 2731 proposes several changes to Texas Government Code Title 8, Subtitle, including a requirement for the board to adopt rules and procedures for receiving a complaint against a person who provides management or investment services to a public retirement system. Furthermore, CSHB 2731 would require a member of a governing body of a public retirement system, any private professional investment manager who has entered into a contract with the public retirement system or any other person providing services to the public retirement system relating to the management and investment of the system’s assets to provide in writing to the retirement system any business, commercial, or other relationship that a reasonable person would find to diminish the person's independence of judgment in performing the person's responsibilities with respect to the management and investment of the system’s assets.

The proposed bill, if enacted, will not have a significant actuarial effect on any public retirement system because it does not propose to change the funding or obligations of any public retirement system.