March 2022 Board Meeting

• View the livestream
• Board materials

Members of the public may provide public comment on agenda items presented to the Board by registering early with ERS. Please submit an email to Kelley.davenport@ers.texas.gov identifying the name of the speaker and agenda item no later than 5:00 p.m. on Tuesday, March 8, 2022.

Audit Committee Meeting | Audit presentation | Audit minutes

1. Call Meeting of the Audit Committee to Order, materials 1, video 1
2. Consideration of the Minutes to the December 7, 2021 Audit Committee Meeting – (Action), materials 2, video 2
3. *Consideration of External Audit Reports, materials 3, video 3
   • Audit Report of Fiscal Year 2022 Financial Statements
   • Pension Forecasting
4. Consideration of Internal Audit Reports, materials 4, video 4
   • Status of Audit Recommendations
5. Consideration of Internal Audit Administrative Items, materials 5, videos 5
   • Internal Audit Charter
   • Internal Audit Committee Charter
6. Adjournment of the Audit Committee Meeting, materials 6, video 6

Joint Meeting of the Board of Trustees and Investment Advisory Committee | IAC presentation | IAC minutes

7. Call Meeting of the Board of Trustees to Order, materials 7, video 7
8. Call Meeting of the Investment Advisory Committee to Order, materials 8, video 8
9. Consideration of the Minutes to the December 8, 2021 Joint Meeting of the Board of Trustees and Investment Advisory Committee – (Action), materials 9, video 9
10. Consideration of New Appointments to the Investment Advisory Committee – (Board Only Action), materials 10, video 10
11. Consideration of Texa$aver Investment Performance Review for Calendar Year 2021, materials 11, video 11
12. *Consideration of the Investment Compliance Annual Report, materials 12, video 12
13. Annual Consideration of Eligibility and Compliance of the Investment Advisory Committee, materials 13, video 13
14. Consideration of Quarterly Report from Chief Investment Officer, materials 14, video 14
15. *Consideration of Quarterly Review of Investment Performance and Risk Update, materials 15, video 15 
16. *Consideration of Annual Review of Capital Market Assumptions, materials 16, video 16
17. *Consideration of Annual Review of Fixed Income Program, materials 17, video 17
    • Consideration of Securities Lending Program
18. Reminder Regarding Future Meetings of the Board of Trustees, Investment Advisory Committee, and  Audit Committee, materials 18, video 18
19. Adjournment of the Joint Meeting of the Board of Trustees and Investment Advisory Committee, materials 19, video 19
20. Recess of the Board of Trustees. Following a temporary recess, the Board of Trustees will reconvene to take up Board agenda items. materials 20, video 20

Meeting of the Board of Trustees | Board presentation | Board minutes

21. Call Meeting of the Board of Trustees to Order, materials 21, video 21
22. Consideration of the Minutes to the December 7, 2021 Board of Trustees Meeting – (Action), materials 22, video 22
23. Consideration of Texas Employees Group Benefits Program Update, materials 23, video 23
    • COVID-19 Update
    • Annual Non-Financial Performance Measure Update
24. Consideration of the Board’s Authority Under Texas Government Code Section 2269.053 to Delegate
    Responsibility for Approving “Job Order” Construction Projects that Exceed $500,000 – (Action) - materials 24, video 24
25. Agency Update, materials 25, video 25 
    • Customer Service Update 
    • Group 4 Implementation  
    • GBP Annual Report 
    • Staying Connected Retiree Events 
    • ERS 75th Anniversary 
    • Strategic Planning 
    • 2022 Get Fit Texas Challenge 
    • Recent Agency Development
26. Executive Session - In accordance with Section 551.089, Texas Government Code, the Board of Trustees will meet in executive session to discuss: (1) security assessments or deployments relating to information resources technology; (2) network security information as described by Section 2059.055(b); or (3) the deployment, or specific occasions for implementation, of security personnel, critical infrastructure, or security devices. Thereafter, the Board may consider appropriate action in open session. materials 26, video 26
27. Adjournment of the Board of Trustees Meeting, materials 27, video 27

* 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 9, 2022 to take up Board of Trustees Audit Committee agenda items from 8:30 a.m. to approximately 9:35 a.m., Joint Board of Trustees and Investment Advisory Committee items from 9:45 a.m. to approximately 2:00 p.m., and the Board of Trustees items from 2:10 p.m. to approximately 4:45 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.