Teacher Retirement System of Texas

Teacher Retirement System Of Texas

Teacher Retirement System of Texas (TRS) is a public pension plan of the State of Texas. Established in 1937, TRS provides retirement and related benefits for those employed by the public schools, colleges, and universities supported by the State of Texas and manages a $117.5 billion trust fund established to finance member benefits. Nearly 1.3 million public education and higher education employees and retirees participate in the system. TRS is the largest public retirement system in Texas in both membership and assets and the sixth largest public pension fund in the U.S. The agency is headquartered at 1000 Red River Street in the capital city of Austin.

A Board of Trustees governs the retirement system. The Board is composed of nine trustees who are appointed to staggered terms of six years. Three trustees are direct appointments of the Governor. Two trustees are appointed by the governor from a list prepared by the State Board of Education. Two trustees are appointed by the governor from the three public school district active member candidates who have been nominated for each position by employees of public school districts. One trustee is appointed by the governor from the three higher education active member candidates nominated by employees of institutions of higher education. One trustee is appointed by the governor from the three retired member candidates who are nominated by retired TRS members.

The Executive Director of TRS is Brian Guthrie. The budget requested for the 2014-15 biennieum was $4.2 billion USD. The 82nd Texas Legislature passed new legislation in 2011 that will impact the composition of the TRS Board of Trustees beginning in 2017. The current higher education trustee position on the board will become an “open” seat at that time. Beginning with the 2017 board election, TRS retirees, members in public school districts, and members in higher education institutions may run for nomination to this trustee position. The top three vote recipients’ names will then be submitted to the governor for appointment.