Funding Soundness Restoration Plans (FSRPs) are developed by Texas public retirement systems and their sponsors to improve the funding status of financially-distressed plans. The requirement was established by the Texas Legislature in 2015 and updated in 2021.
Some systems have legacy FSRPs, or L-FSRPs, that were formulated before the law was changed. If a system is adhering to one of these L-FSRPs, it may continue operating under the old version of the FSRP statute under certain conditions.
The PRB has created a variety of graphics and educational materials to help system trustees and administrators understand the FSRP requirements. Click here to view the FSRP educational materials.
In August 2022, the PRB gave a presentation covering FSRPs at the 2022 Annual TEXPERS Educational Forum. Click here to view the presentation.
To implement the 2021 statutory changes and clarify the new requirements, the PRB developed rules. These rules can be found in Chapter 610 of the Texas Administrative Code.