May 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 identifying the name of the speaker and agenda item no later than 5 pm. CT on Tuesday, May 10, 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 March 9, 2022 Audit Committee Meeting – (Action), materials 2, video 2
3. Consideration of Internal Audit Reports, materials 3, video 3
   • Public Equity – External Advisor Program
   • Administrative Budgeting Audit
4. Adjournment of the Audit Committee Meeting, materials 4, video 4

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

5. Call Meeting of the ERS Board of Trustees to Order, materials 5, video 5
6. Call Meeting of the Investment Advisory Committee to Order, materials 6, video 6
7. Consideration of the Minutes to the March 9, 2022 Joint Meeting of the Board of Trustees and Investment Advisory Committee – (Action), materials 7, video 7
8. Consideration of Reappointments to the Investment Advisory Committee – (BOT Only Action), materials 8, video 8
9. Consideration of Annual Review of the ERS Incentive Compensation Plan, materials 9, video 9
10. Quarterly Report from Chief Investment Officer, materials 10, video 10
11. *Consideration of Quarterly Review of Investment Performance and Risk Update, materials 11, video 11
12. Consideration of the 2022 Asset Liability Study, materials 12, video 12
13. Consideration of Annual Review of Private Equity Program and Proposed Private Equity Tactical Plan– (Action), materials 13, video 13
14. Consideration of Annual Review of Hedge Fund Program and Proposed Hedge Fund Tactical Plan – (Action), materials 14, video 14
15. Reminder Regarding Future Meetings of the Board of Trustees, Investment Advisory Committee, and Audit Committee, materials 15, video 15
16. Adjournment of the Joint Meeting of the Board of Trustees and Investment Advisory Committee, materials 16, video 16
17. Recess of the Board of Trustees.  Following a temporary recess, the Board of Trustees will reconvene to take up the Board agenda items. materials 17, video 17

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

18. Call Meeting of the Board of Trustees to Order, materials 18, video 18
19. Consideration of the Minutes to the March 9, 2022 Board of Trustees Meeting – (Action), materials 19, video 19
20. Consideration of Contract Award Recommendation for Third-Party Administrative and Evidence of Insurability Underwriting Services for the Texas Income Protection Plan under the Texas Employees Group Benefits Program – (Action), materials 20, video 20
21. Consideration of Proposed Rates for HealthSelect and Consumer Directed HealthSelect Plans, with rates Inclusive of plan changes for Fiscal Year 2023 – (Action), materials 21, video 21
22. Consideration of Proposed Plan Year 2023 Rates for the Group Benefits Program Optional Coverages (Action), materials 22, video 22
    • State of Texas Dental Choice Plan and Dental Health Maintenance Organization
    • State of Texas Vision Plan
    • Basic and Optional Term Life, Accidental Death and Dismemberment Plans
    • Texas Income Protection Plan
23. Consideration of Proposed Fiscal Year 2023 Fees for TexFlex Program - (Action), materials 23, video 23
24. Consideration and Discussion of Group 4 Implementation, materials 24, video 24
25. Agency Update, materials 25, video 25
    • Customer Benefits – “Action Beyond the Call”
    • Survey of Employee Engagement (SEE)
    • Strategic Planning
    • Commuter Spending Account
    • Staying Connected events
    • Summer Enrollment for Plan Year 2023
    • 2022 Get Fit Texas State Agency Challenge Results
    • Recent Agency Developments
26. Executive Session – In accordance with Section 551.074, Texas Government Code, the Board will meet in executive session to deliberate the employment, evaluation, and duties of the Executive Director, and in accordance with Section 551.072, Texas Government Code, the Board will meet in executive session to deliberate the purchase, exchange, lease, or value of real property at 1836 San Jacinto Boulevard. 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, May 11, 2022 to take up Board of Trustees Audit Committee agenda items from 8:30 a.m. to approximately 9:10 a.m., Joint Board of Trustees and Investment Advisory Committee items from 9:20 a.m. to approximately 2:10 p.m., and the Board of Trustees items from 2:20 p.m. to approximately 5:30 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.