Funding Soundness Restoration Plan (FSRP)

The PRB is engaging in rulemaking to facilitate implementation of the legislature’s 2021 changes to the Funding Soundness Restoration Plan (FSRP) statute. The PRB plans to adopt these rules in October 2022.  As a first step, the board’s Actuarial Committee discussed the initial rule concepts at its January 28 meeting. The Actuarial Committee discussed the draft rules and draft board policy on May 18th. You may also submit your comments by email to prb@prb.texas.gov. Staff is also available for discussion by phone or video conference.

 


Stakeholder Participation Timeline:

Staff will be accepting comments and feedback throughout the process, but there are some notable milestones for stakeholder participation:

• Staff will be drafting the rules and seeking informal feedback in March and April 2022.
• The initial draft rules will be presented for discussion at the Actuarial Committee meeting on May 18, 2022 and distributed for informal comment afterwards.
• Staff will then present the draft rules to the full board at the July 14, 2022 meeting for approval to post in the Texas Register for the 30-day formal public comment period.

 

Reference Materials:

• To see the January 28 committee discussion, please find the video here: https://tlchouse.granicus.com/MediaPlayer.php?view_id=13&clip_id=23116
  
  
• January 28 meeting and other FSRP reference materials can be found here: https://www.prb.texas.gov/txpen/wp-content/uploads/2022/01/PRB-January-Actuarial-Cmte-Packet.pdf
  
  
• May 18 committee meeting reference materials can be found here: https://prb.box.com/shared/static/fuz5ujnionj5lx9o5founhv2tvbuondw.pdf
  
  
• July 14 meeting reference materials can be found here: https://prb.box.com/shared/static/n69e3l9xid4z56zyccsmet8djcawdtph.pdf