March 2018 Board Meeting

Board materials

NOTE: This link will redirect you to another website. The ERS page on the BoardDocs site includes the materials for the March 2018 ERS Board of Trustees meeting. 

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 Approval of the Minutes to the December 13, 2017 ERS Audit Committee Meeting - video 1.2.1

3. AUDIT ITEMS

3.1 Review of External Audit Reports - video 1.3.1

• 2017 Financial Opinion

3.2 Review of Internal Audit Reports - video 1.3.2

• HealthSelect Denial
• Vendor/Third Party Provider IT Security Oversight
• Investment Compliance
• Status of Audit Recommendations

4. ADJOURNMENT 

4.1 Adjournment of the ERS Board of Trustees Audit Committee. Following adjournment of the Audit Committee, the Board of Trustees will take up the remaining agenda items.- video 1/4/1

2. 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

2. MINUTES 

2.1 Review and Approval of the minutes to the December 13, 2017 ERS Board of Trustees Meeting - video 2.2.1

3. ACTUARIAL FACTOR TABLES

3.1 Review and Consideration of Retirement Actuarial Factor Tables - video 2.3.1

4. RULES OF THE BOARD OF TRUSTEES 

4.1 Review and Consideration of the Rules of the Board of Trustees, Texas Administrative Code, Title 34, Part IV, Chapter 71 (Creditable Service), Chapter 73 (Benefits), and Chapter 77 (Judicial Retirement) - video 2.4.1

4.2 Review and Consideration of the Rules of the Board of Trustees, Texas Administrative Code, Title 34, Part IV, Chapter 81(Insurance) - video 2.4.2

5. PENSION FUNDING AND GUIDELINES

5.1 Review of Pension Funding Priorities and Guidelines Policy - video 2.5.1

6. SUNSET

6.1 Review and Discussion of the Sunset Implementation Project Updates - video 2.6.1

7. GROUP BENEFITS PROGRAM ADVISORY COMMITTEE 

7.1 Review and Consideration of Appointment of Group Benefits Advisory Committee member - video 2.7.1

8. TEXAS EMPLOYEES GROUP BENEFITS PROGRAM 

8.1 Review and Discussion of the Group Benefits Program Update - video 2.8.1

9. EXECUTIVE DIRECTOR REPORT 

9.1 Executive Director Agency Update - video 2.9.1

• Public Law No. 115-97 – Tax Cuts and jobs Act (TCJA)
• Initial Group Benefits Advisory Committee Meeting
• Data Center Project
• 200 B Project
• 2018 Get Fit Texas State Agency Challenge

10. EXECUTIVE SESSION 

10.1 Executive Session – In accordance with Section 551.072 and 551.076 Texas Government Code, the ERS Board of Trustees will meet in executive session to deliberate (1) the purchase, exchange, lease, or value of Real property and the ERS building; and (2) the deployment, or specific occasions for implementation of security personnel or devices or a security audit. Thereafter, the Board may consider appropriate action in open session. - video 2.10.1

11. RECESS 

11.1 Recess of the ERS Board of Trustees. Following a temporary recess, the Board of Trustees will reconvene with the Investment Advisory Committee to take up the remaining agenda items.

3. Joint Meeting of the 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 3.1.1

1.2 Call Meeting of the Investment Advisory Committee to Order - video 3.1.2

2. MINUTES 

2.1 Review and Approval of the minutes to the December 12, 2017 Joint Meeting of the Board of Trustees and Investment Advisory Committee - video 3.2.1

2.2 Motion to Rescind approval of the minutes for the August 23, 2017 Joint  Meeting of the Board of Trustees and Investment Advisory Committee; Review and Approval of Amended Minutes of the August 23, 2107 Joint Meeting of the Board and IAC - video 3.2.2

3. EXECUTIVE SESSION

3.1 Executive Session – In accordance with Section 815.3016, Texas Government  Code, the ERS Board of Trustees will meet in executive session to consider and discuss an alternative investment or a potential alternative investment in a private equity fund of funds. Thereafter, the Board may consider appropriate Action in open session. - video 3.3.1

4. IAC ELIGIBILITY AND COMPLIANCE

4.1 Review and Discussion of the Eligibility and Compliance for Calendar Year  2018 of the Investment Advisory Committee - video 3.4.1

5. INVESTMENT PERFORMANCE 

5.1 Review of Investment Performance for the Fourth Calendar Quarter of 2017 - video 3.5.1

6. ERS INVESTMENT POLICY 

6.1 Review of ERS’ Investment Policy - video 3.6.1

7. GLOBAL PUBLIC EQUITY 

7.1 Global Public Equity Program Overview, Proxy Voting and Market Update - video 3.7.1

7.2 Proposed Revisions to the Global Public Equity Guidelines and Procedures - video 3.7.2

8. PRIVATE INFRASTRUCTURE PROGRAM

8.1 Market Update and Program Overview - video 3.8.1

8.2 Proposed Revisions to the Private Infrastructure Guidelines and Procedures - video 3.8.2

8.3 Consideration of Proposed Private Infrastructure Annual Tactical Plan for Fiscal Year 2018 – Fiscal Year 2019 - video 3.8.3

9. CALENDAR 

9.1 Set 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 next meeting of the Audit Committee - video 3.9.1 

10. ADJOURNMENT 

10.1 Adjournment of the Joint Meeting of the Board of Trustees and Investment Advisory Committee

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 Audit Committee is scheduled to meet from 8:00 a.m. to approximately 8:45 a.m. on Wednesday, March 7, 2018. The Board of Trustees are scheduled to meet from approximately 8:45 a.m. to 12:05 p.m. on Wednesday, March 7, 2018. The Board of Trustees and Investment Advisory Committee will take up the remaining agenda items from approximately 12:35 p.m. to 4:25 p.m. on Wednesday, March 7, 2018. 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.