May 2024 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. CT on Tuesday, May 21, 2024.

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

1. Call the Board of Trustees to Order, materials 1, video 1
2. Consideration of Consent Agenda, materials 2, video 2
   • Minutes to the March 20, 2024 Audit Committee Meeting
   • Minutes to the March 20, 2024 Board of Trustees Meeting
   • Minutes to the March 20, 2024 Joint Meeting of the Board of Trustees and Investment Advisory Committee
   • Status of Audit Recommendations
   • Proposed Fiscal Year 2025 Fees for TexFlex Program
   • Quarterly Texa$aver Investment Performance
3. Executive Session - In accordance with Section 551.071, Texas Government Code, the Board of Trustees will meet in executive session to consult with its attorney to seek advice on legal matters, including pending or contemplated litigation and other legal matters in which the duty of the attorney to the Board of Trustees under the Texas Disciplinary Rules of Professional Conduct clearly conflicts with the Open Meetings Act. Thereafter, the Board may consider appropriate action in open session. materials 3, video 3
4. Call the Investment Advisory Committee to Order, materials 4, video 4
5. Consideration of Annual Review of ERS Incentive Compensation Plan Document for Plan Year 2025, materials 5, video 5
6. *Consideration of Quarterly Review of Investment Performance, materials 6, video 6
7. *Consideration of Quarterly Report from Chief Investment Office, materials 7, video 7
8. *Consideration of Annual Review of Real Assets Program, materials 8, video 8
9. *Consideration of Annual Review of Private Equity Program, 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 remaining items listed on the agenda. materials 11, video 11

Meeting of the Board of Trustees | Board presentation

12. Reconvene the Board of Trustees, materials 12, video 12
13. Stakeholder Connection: A Panel Discussion with State Employee Associations, materials 13, video 13
14. Consideration of Recommendation to Award a Contract for Administration of a Well-being Program, materials 14, video 14
15. Consideration of Proposed Fiscal Year 2025 Rates for HealthSelect and Consumer Directed HealthSelect Plans, materials 15, video 15
16. Consideration of Proposed Plan Year 2025 Rates for the Group Benefits Program Optional Coverages, materials 16, video 16
    • State of Texas Dental Choice Plan and Dental Health Maintenance Organization Plan
    • State of Texas Vision Plan
    • Basic and Optional Term Life and Accidental Death and Dismemberment Plans
    • Texas Income Protection Plan
17. Consideration of Retirement Insurance System Enhancement (RISE) Project Update, materials 17, video 17
18. Agency Update, materials 18, video 18
    • 2024 Summer Enrollment Communications
    • Strategic Planning
    • Trustee Self-Evaluation
    • Legislative Appropriations Request for Fiscal Years 2026 - 2027
    • 2024 Get Fit Texas State Agency Challenge Results
    • Leasing Update Regarding 1836 San Jacinto Boulevard
    • Recent Agency Developments
19. Reminder Regarding Future Meetings of the Board of Trustees, Investment Advisory Committee, and Audit Committee, materials 19, video 19
20. Adjournment of the Board of Trustees Meeting, materials 20, video 20

* 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 on Wednesday, May 22, 2024, to take up Consent Agenda items from 8:30 a.m. to approximately 8:35 a.m.; Joint Board of Trustees and Investment Advisory Committee items from approximately 8:35 a.m. to approximately 12:05 p.m.; and Board of Trustees items from approximately 12:35 p.m. to approximately 4:15 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 discussion within each agenda item and other circumstances not presently anticipated. Please note that the order of meetings or agenda items may be moved or adjusted as necessary.