March 6, 2019 Board Meeting

• Board materials
  NOTE: This link redirects you to another website which hosts materials for ERS Board of Trustee meetings.

1. Meeting of the ERS Board of Trustees Audit Committee - Audit Committee presentation

1. CALL TO ORDER

1.1 Call Meeting of the ERS Board of Trustees Audit Committee to Order - video 1.1.1

2. MINUTES

2.1 Review and Approval of the minutes to the December 11, 2018 ERS Audit Committee Meeting – (ACTION) - video 1.2.1

3. AUDIT ITEMS

3.1 Review of External Audit Reports - video 1.3.1

• Audit Report of the Employee’s Retirement System’s Fiscal Year 2018 Financial Statements

3.2 Review of Internal Audit Reports - video 1.3.2

• Audit of Incentive Compensation

3.3 Review of Internal Audit Administrative Items – (ACTION) - video 1.3.3

• Internal Audit Charter
• Audit Committee Charter

4. ADJOURNMENT

4.1 Adjournment of the ERS Board of Trustees Audit Committee meeting - video 1.4.1

4.2 Recess of the ERS Board of Trustees. Following a temporary recess, the Board of Trustees will reconvene its meeting with the Investment Advisory Committee to take up the following joint Board of Trustees and Investment Advisory Committee agenda items. - video 1.4.2

2. Joint Meeting of the ERS Board of Trustees and Investment Advisory Committee - Joint Meeting presentation

1. CALL TO ORDER

1.1 Call Meeting to Reconvene the Board of Trustees - video 2.1.1

1.2 Call Meeting of the Investment Advisory Committee to Order - video 2.1.2

2. MINUTES

2.1 Review and Approval of the Minutes to the December 12, 2018 Joint Meeting of the Board of Trustees and Investment Advisory Committee – (ACTION) - video 2.2.1

3. INVESTMENT COMPLIANCE ANNUAL REPORT

*3.1 Review and Discussion of the ERS Investment Compliance Program - video 2.3.1

4. IAC ELIGIBILITY AND COMPLIANCE AND IAC RECOGNITION

4.1 Review and Discussion of Eligibility and Compliance for Calendar Year 2019 of the Investment Advisory  Committee - video 2.4.1

4.2 Investment Advisory Committee member Recognition - video 2.4.2

5. INVESTMENT PERFORMANCE

*5.1 Review of the Investment Performance for Fourth Calendar Quarter of 2018 - video 2.5.1

6. GLOBAL PUBLIC EQUITIES PROGRAM

*6.1 Market Update and Program Overview - video 2.6.1

 6.2 Report on Global Equity Performance below Benchmark over Three-Year Period - video 2.6.2

7. OPPORTUNISTIC CREDIT

*7.1 Consideration of Proposed Opportunistic Credit Tactical Plan for Fiscal Year 2019 – (ACTION) - video 2.7.1

8. INVESTMENT POLICY

*8.1 Review and Consideration of ERS’ Investment Policy – (ACTION) - video 2.8.1

9. BENCHMARKS

9.1 Review and Discussion of Investments Benchmarking - video 2.9.1

10. CALENDAR

10.1 Reminder date for the next Joint Meeting of the ERS Board of Trustees and Investment Advisory Committee, the next meeting of the Board of Trustees and the next meeting of the Audit Committee. - video 2.10.1

11. ADJOURNMENT

11.1 Adjournment of the Joint Meeting of the Board of Trustees and Investment Advisory Committee. - video 2.11.1

11.2 Recess of the Board of Trustees. Following a temporary recess, the Board of Trustees will reconvene To take up the Board agenda items. - video 2.11.2

3. Meeting of the ERS Board of Trustees - Board of Trustees presentation

1. CALL TO ORDER

1.1 Call Meeting of the ERS Board of Trustees to Order - video 3.1.1

2. MINUTES

2.1 Review and Approval of the minutes to the December 11, 2018 ERS Board of Trustees Meeting – (ACTION) - video 3.2.1

3. CONTRACT AWARD RECOMMENDATIONS

3.1 Review, Discussion and Consideration of the Contract Award Recommendation for the Dental PPO and DHMO Contracts – (ACTION) - video 3.3.1

3.2 Review, Discussion and Consideration of the Contract Award Recommendation for Benefits Administration Services (BAS) – (ACTION) 

4. TEXAS EMPLOYEES GROUP BENEFITS PROGRAM FUNDING POLICY

4.1 Review and Discussion of the Texas Employees Group Benefits Program Funding Policy Document - video 3.4.1

5. TEXAS EMPLOYEES GROUP BENEFITS PROGRAM

5.1 Review and Discussion of the Texas Employees Group Benefits Program (GBP) Update - video 3.5.1

5.2 Review and Consideration of Proposed Texa$aver Fees for Low Balance Tier – (ACTION) - video 3.5.2

6. EXECUTIVE DIRECTOR REPORT

6.1 Executive Director Agency Update - video 3.6.1

• 2019 Legislative Session Update
• Major Publications
• Building Update
• 2019 Board of Trustees Election
• 2019 Get Fit Texas State Agency Challenge

7. ADJOURNMENT

7.1 Adjournment of the Board of Trustees meeting

* We are accredited by the State Pension Review Board (PRB) as a Minimum Educational Training (MET) sponsor for Texas public retirement systems. This accreditation does not constitute an endorsement by the PRB as to the quality of our MET program. These agenda items may be considered in-house training provided by ERS to board trustees and the system administrator for purposes of fulfilling the MET program requirements. ERS is an accredited sponsor of MET for its system administrator and trustees. 

NOTES: 1. Persons with disabilities who plan to attend this meeting and who may need special assistance are requested to contact Kelley Davenport at (512) 867-7772 three to five (3-5) working days prior to the meeting date so that appropriate arrangements can be made. 

2. The Employees Retirement System of Texas Board of Trustees will convene as a committee of the whole on Wednesday, March 6, 2019 to take up Audit agenda items from 8:00 a.m. to approximately 8:35 a.m., Joint Board of Trustees and Investment Advisory Committee items from 8:40 a.m. to approximately 12:25 p.m., and the Board of Trustees meeting items from 12:55 p.m. to approximately 3:20 p.m., but may hear those items before or after the anticipated time frame. Meetings are tentatively scheduled to follow each other consecutively, but they may start earlier or later than the posted time depending on the length of the discussions within each agenda item and meeting and other circumstances not presently anticipated. Please note that the estimated times and sequence of agenda items are only approximate, and the time reflected in the posted agenda item, order of meetings or agenda items may be moved or adjusted as necessary.