Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1665 by Huffman (Relating to the investment authority of the Teacher Retirement System of Texas.), As Introduced
No fiscal implication to the State is anticipated.
The bill would extend and clarify the existing authorization of the Teacher Retirement System to use derivatives and external managers in the investment of retirement system trust funds. The bill would add a provision limiting the discretionary investment authority delegated to external investment managers to not more than 30 percent of the total assets held in trust.
Local Government Impact
No fiscal implication to units of local government is anticipated.