The materials on this webpage are provided as a resource for Pension Review Board (PRB) stakeholders and the general public.
Some resources, where noted, are prepared by third parties. The PRB has not independently verified the accuracy, completeness, or timeliness of these materials. These materials are posted as they were provided by a third party to the PRB, and the PRB does not endorse or recommend the information contained therein, nor does the PRB accept any liability for reliance on the information disclosed. This information is also subject to the PRB’s web policies, linked in the footer of the PRB website.
Jump to the resources you need: General | Governance | Ethics | Procurement | Private Pensions
In basic terms, governance is the systems and process that comprise the oversight and control of an organization.1 At a minimum, good governance generally means decisions are made through processes that are:
For public retirement systems, good governance also means fiduciaries exercise their duties including prudently selecting and managing investments and cost-effectively administering the system. The Texas Pension Review Board has created a contribution and benefit decision-making provisions table for public retirement systems.
Some governance best practice resources include:
Trustees and administrators of public retirement systems must follow the highest professional and ethical standards to help ensure that assets are safeguarded, promised benefits are delivered and decision-making is fair and equitable. As fiduciaries, trustees and key employees have a legal duty to ensure that certain standards of conduct are met. The Chartered Financial Analyst Institute Code of Ethics is one example of a code of ethics for investment professionals.
Pursuant to Section 801.210, Texas Government Code, the PRB has developed a Model Ethics and Conflict-of-Interest Policy for voluntary use by Texas public retirement systems.
Here are some samples of ethics policies adopted by Texas public retirement systems. These policies are prepared by third parties and are subject to the disclaimer at the top of this page.
The following statutes contain many of the ethical standards and conflict-of-interest and disclosure requirements that may apply to Texas public retirement systems:
Here are some samples of procurement documents provided by Texas public retirement systems. These requests for proposal (RFPs), requests for information (RFIs), and requests for qualifications (RFQs) are prepared by third parties and are subject to the disclaimer at the top of this page.
The PRB only works with public pensions in Texas. If you are interested in or have questions about a private pension, please review the resources below:
