House Appropriations, Pensions & Investments to Conduct Joint Study of ERS Retirement Trust
House Speaker Dennis Bonnen has charged the House Appropriations Committee and Committee on Pensions, Investments & Financial Services to review and evaluate the actuarial soundness of the Employees Retirement System. The committees shall examine the cost and potential strategies for achieving and maintaining actuarial soundness, the effect of unfunded liabilities on the state’s credit rating, and the state’s investment policies and practices, including investment objectives, targets, disclosure policies, and transparency. In addition, the Speaker charged Appropriations with examining the cost of state employee turnover on the state budget and reviewing the impact of targeted salary increases, particularly at HHS and TDCJ. The committees will conduct hearings on these and other charges next year and report back to the Legislature when it convenes in January, 2021.