The Texas State Pension Review Board was created in 1979 by House Bill 1506, 66th Legislature (Chapter 801, Government Code), as an independent state agency to oversee and review state and local government retirement systems in Texas.
Our mission is to provide the State of Texas with the necessary information and recommendations to help ensure that our public retirement systems, whose combined assets total in the multi-billions, are actuarially sound, benefits are equitable, the systems are properly managed, tax expenditures for employee benefits are kept to a minimum while still providing for those employees, and to expand the knowledge and education of administrators, trustees, and members of Texas public retirement systems.
The PRB is the sole ongoing oversight mechanism for Texas public retirement systems. To fulfill its mission requires the combined effort of the systems, their sponsoring governmental entities, and other members of the Texas public pension plan community. The PRB remains focused on helping ensure that retirement benefits are securely provided at the lowest cost to the taxpayers.
The PRB’s 2023-2024 Biennial Report highlights significant agency accomplishments and changes, including changes to Minimum Educational Training (MET) Program rules, updates to Pension Funding Guidelines and Funding Policy Guidance, the development of Investment Policy Statement Guidelines, Guidance, and Tool, and so much more.
