March 2023 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 p.m. CT on Tuesday, February 28, 2023

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 6, 2022 Audit Committee Meeting - (Action), materials 2, video 2
3. *Consideration of External Audit Reports, materials 3, video 3
   • Audit of Fiscal Year 2022 Financial Statements
4. Consideration of Internal Audit Reports, materials 4, video 4
   • Contact Center Audit
5. Consideration of Internal Audit Administrative Items, materials 5, video 5
   • Internal Audit 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 7, 2022 Joint Meeting of the Board of Trustees and Investment Advisory Committee – (Action), materials 9, video 9
10. Consideration of Texa$aver Investment Performance Review for Calendar Year 2022, materials 10, video 10
11. *Consideration of the Investment Compliance Annual Report, materials 11, video 11
12. Annual Consideration of Eligibility and Compliance of the Investment Advisory Committee, materials 12, video 12
13. Consideration of Reappointments to the Investment Advisory Committee – (Board Only Action), materials 13, video 13
14. Executive Session - In accordance with Section 551.071, Texas Government Code, the Board of Trustees will meet in executive session for the purpose of obtaining legal advice regarding issues related to the Investment Advisory Committee, including questions regarding contract terms, compensation, requirements of the Texas Open Meetings Act, and other similar issues.  Thereafter, the Board may consider appropriate action in open session. materials 14,
15. Consideration of Quarterly Report from Chief Investment Officer, materials 15, video 15
16. *Consideration of Quarterly Review of Investment Performance and Risk Update, materials 16, video 16
17. *Consideration of Annual Review of Capital Market Assumptions, materials 17, video 17
18. *Consideration of Annual Review of Public Credit, Private Credit and Hedge Fund Programs, materials 18, video 18
19. Consideration of Annual Review of Securities Lending Program, materials 19, video 19
20. *Consideration of Annual Review of Treasury and Trading Programs, materials 20, video 20
21. Reminder Regarding Future Meetings of the Board of Trustees, Investment Advisory Committee, and Audit Committee, materials 21, video 21
22. Adjournment of the Joint Meeting of the Board of Trustees and Investment Advisory Committee, materials 22, video 22
23. Recess of the Board of Trustees. Following a temporary recess, the Board of Trustees will reconvene to take up Board agenda items. materials 23, video 23

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

24. Call Meeting of the Board of Trustees to Order, materials 24, video 24
25. Consideration of the Minutes to the December 6, 2022 Board of Trustees Meeting – (Action), materials 25, video 25
26. Consideration of the Retirement Insurance System Enhancement (RISE) Project, materials 26, video 26
27. Consideration of Texas Employees Group Benefits Program Update, materials 27, video 27
    • Annual Non-Financial Performance Measure update
    • Plan Compliance and Operational Updates – Calendar Year Programs
28. Consideration of Contract Award Recommendation to Provide Third-Party Administration of the Self-Funded State of Texas Vision^SM Plan under the Texas Employees Group Benefits Program – (Action), materials 28, video 28
29. Consideration and Appointment of Group Benefits Advisory Committee Member – (Action), materials 29, video 29
30. Consideration of Texa$aver Plan Compliance and Operation Updates, materials 30, video 30
31. Agency Update, materials 31, video 31
    • Customer Service Update – “Action Beyond the Call”
    • Legislative Update
    • Building Update
    • 2023 Get Fit Texas State Agency Challenge
    • Recent Agency Developments
32. 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 32, video 32
33. Adjournment of the Board of Trustees Meeting, materials 33, video 33

* 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 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 1, 2023, to take up Audit Committee agenda items from 8:30 a.m. to approximately 9:20 a.m. and Joint Board of Trustees and Investment Advisory Committee agenda items from approximately 9:30 a.m. to approximately 2:05 p.m. and Board agenda items from approximately 2:15 a.m. to approximately 5:20 p.m., but may include 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.