May 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@ers.texas.gov identifying the name of the speaker and agenda item no later than 5 p.m. on Tuesday, May 16, 2023.

Board of Trustees | Board presentation | Board minutes

1. Call Meeting of  the Board of Trustees to Order, materials 1, video 1
2. Consider of Consent Agenda - (Action), materials 2, video 2
   • Consideration of the Minutes to the March 1, 2023 Audit Committee Meeting
   • Consideration of the Minutes to the March 1, 2023 Board of Trustees Meeting 
   • Consideration of the Minutes to the March 1, 2023 Joint Meeting of the Board of Trustees and Investment Advisory Committee 
   • Consideration of Proposed Fiscal Year 2024 Fees for TexFlex^SM Program 
3. Consideration of Proposed Fiscal Year 2024 Rates for HealthSelect and Consumer Directed HealthSelect Plans – (Action), materials 3, video 3
4. Consideration of Proposed Plan Year 2024 Rates for the Group Benefits Program Optional Coverages – (Action), materials 4, video 4
   •  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
5. Consideration of  Proposal to Grant ERS Employees a Salary Increase Equivalent to the Increase Approved by the Legislature for Other State Employees – (Action), materials 5, video 5
6. Agency Update, materials 6, video 6
   • 2023 Board of Trustee Election 
   • Legislative Update
   • Customer Benefits – “Action Beyond the Call” 
   • Workforce Update 
   • 2023 Get Fit Texas State Agency Challenge Results 
   • Recent Agency Developments
7. Recess of the Board of Trustees. Following a temporary recess, the Board of Trustees will reconvene to take up the remaining agenda items posted on the agenda. materials 7, video 7

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

8. Call Meeting of the ERS Board of Trustees to Order, materials 8, video 8
9. Call Meeting of the Investment Advisory Committee to Order, materials 9, video 9
   • Public Comment, video 
10. Consideration of Annual Review of the ERS Incentive Compensation Plan, materials 10, video 10
11. *Consideration of Quarterly Review of Investment Performance and Risk Update, materials 11, video 11
12. Consideration of Quarterly Report from Chief Investment Officer, materials 12, video 12
13. *Educational Presentation – Valuation Practices in Private Markets, materials 13, video 13
14. *Consideration of the Annual Review of the Real Assets Programs, materials 14, video 14
15. *Consideration of Annual Review of Private Equity Program, materials 15, video 15
16. Reminder Regarding Future Meetings of the Board of Trustees, Investment Advisory Committee, and Audit Committee, materials 16, video 16
17. Adjournment of the Joint Meeting of the Board of Trustees and Investment Advisory Committee, materials 17, video 17

* 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 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 Board of Trustees will convene as a committee of the whole on Wednesday, May 17, 2023, to take up Board agenda items from 8:30 a.m. to approximately 10:15 a.m. and Joint Board of Trustees and Investment Advisory Committee agenda items from approximately 10:25 a.m. to approximately 2:50 p.m., but may take up 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 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.