EMPLOYEES RETIREMENT SYSTEM OF TEXAS

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• Board materials 

All or part of the May 26, 2021 meeting of the ERS Board of Trustees may be held by video conference call as authorized under Section 551.127 of the Texas Government Code. THIS MEETING WILL BE CONDUCTED BY VIDEOCONFERENCE IN ACCORDANCE WITH THE GOVERNOR’S AUTHORIZATION CONCERNING SUSPENSION OF CERTAIN OPEN MEETING LAW REQUIREMENTS IN RESPONSE TO THE COVID-19 (CORONAVIRUS) DISASTER. A quorum of members of the Board will participate in the meeting remotely and will be visible and/or audible to the public. Members of the public may access the meeting by clicking https://ers.texas.gov/About-ERS/ers-board-of-trustees/2021-may-board-meeting.

Members of the public may provide written or public comment on agenda items presented to the Board by registering first with ERS by submitting an email to Kelley.davenport@ers.texas.gov identifying the name of the speaker and agenda item no later than 7:30 a.m. on May 26, 2021. Further instructions will be provided to those that request to make a public comment no later than May 26, 2021.

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

1. Call Meeting of the Board of Trustees to Order, materials 1, video 1
2. Call Meeting of the Investment Advisory Committee to Order, materials 2 , video 2  
3. Review and Approval of the Minutes to the March 10, 2021 Joint Meeting of the Board of Trustees and Investment Advisory Committee – (ACTION), materials 3, video 3   
4. Review and Discussion of the Incentive Compensation Plan, materials 4, video 4
5. *Review of the Investment Performance for 1^st Quarter of 2021 and Risk Update, materials 5, video 5 
6. *Review and Discussion of Fixed Income, materials 6, video 6 
   • Market Update and Program Overview 
   • Review of Securities Lending Program
7. *Review, Discussion and Consideration of Private Infrastructure - (ACTION), materials 7, video 7
   • Market Update and Program Overview
   • Review, Discussion and Consideration of Proposed Private Infrastructure Annual Tactical Plan for Fiscal Year 2022  - (ACTION) 
8. Investment Advisory Committee Member Recognition, materials 8, video 8
9. Reminder date for 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, materials 9, video 9
10. Adjournment of the Joint Meeting of the Board of Trustees and Investment Advisory Committee, materials 10, video 10
11. Recess of the Board of Trustees.  Following a temporary recess, the Board of Trustees will reconvene to take up the Board agenda items. materials 11, video 11  

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

12. Call Meeting of the ERS Board of Trustees to Order, materials 12, video 12
13. Review and Approval of Board of Trustee Meeting Minutes – (ACTION), materials 13, video 13 
    • March 10, 2021 Board of Trustees Meeting 
    • April 14, 2021 Board of Trustees Meeting   
14. *Review, Discussion and Consideration of Retirement and Service Purchase Actuarial Factor Tables – (ACTION), materials 14, video 14
15. Review, Discussion and Consideration of Contract Award Recommendations for the Group Term Life Insurance and Accidental Death and Dismemberment Insurance Plans under the Texas Employees Group Benefits Program – (ACTION), materials 15, video 15
16. Review, Discussion and Consideration of the Proposed Rates for HealthSelect and Consumer Directed HealthSelect Plans, with rates inclusive of plan changes for Fiscal Year 2022 – (ACTION), materials 16, video 16
17. Review, Discussion and Consideration of Proposed Fiscal Year 2022 Rates for the Group Benefits Program Optional Coverages – (ACTION), materials 17, video 17
    • 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
18. Review, Discussion and Consideration of Proposed Fiscal Year 2022 Fees for TexFlex Program and Termination of the Commuter Spending Account Program – (ACTION), materials 18, video 18
19. Review, Discussion and Consideration of Proposed Rules of the Board of Trustees, Texas Administrative Code, Title 34, Part IV, Chapter 63 (Board of Trustees) – (ACTION), materials 19, video 19  
20. Agency Update, materials 20 , video 20    
    • 2021 Legislative Session Update
    • Summer Enrollment for Plan Year 2022
    • 1836 San Jacinto Building Update
    • 2021 Get Fit Texas State Agency Challenge Results
21. Executive Session - In accordance with Section 551.074, Texas Government Code, the Board of Trustees will meet in executive session to deliberate the employment, evaluation and duties of the Executive Director of the Employees Retirement System of Texas.  A quorum of the Board of Trustees will attend the executive session via video conference call in accordance with Section 551.127, Texas Government Code, as modified by Governor Abbott’s Emergency Order suspending certain provisions of the Texas Open Meetings Act on March 16, 2020.  Thereafter, the Board may consider appropriate action in open session., materials 21, video 21
22. Adjournment of the Board of Trustees Meeting, materials 22, video 22

* 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 committee as a whole and the Joint Board of Trustees and Investment Advisory Committee intend to attend the May 26, 2021 ERS Board of Trustees Meeting via videoconference call in accordance with Section 552.127 of the Texas Government Code and with the Governor’s authorization concerning suspension of certain Open Meeting law requirements in response to the COVID-19 (Coronavirus) Disaster.  The Employees Retirement System of Texas Board of Trustees will convene as a committee of the whole on Wednesday, May 26, 2021 to take up  Joint Board of Trustees and Investment Advisory Committee items from 8:30 a.m. to approximately 12:00 p.m., and the Board of Trustees meeting items from 12:30 p.m. to approximately 4:00 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.