The Texas State Pension Review Board (PRB) is mandated to oversee all Texas public retirement systems, both state and local, in regard to their actuarial soundness and compliance with state law. The PRB responsibilities include:
- conducting a continuing review of all public retirement systems within the state, compiling and comparing information about benefit structures, financing, and administration of systems;
- conducting intensive studies of existing or potential problems that weaken the actuarial soundness of public retirement systems;
- insuring the equitable distribution of promised benefits to members of public retirement systems while maximizing the efficient use of tax dollars;
- providing information and technical assistance to public retirement systems, their members, the political entities which sponsor them, and the public;
- recommending policies, practices, and legislation to public retirement systems and their sponsoring governments;
- examining all legislation for potential effect on Texas’ public retirement systems, overseeing the actuarial analysis process, and providing actuarial review when required by law;
- administering the registration and reporting requirements under Chapter 802, Government Code; and
- reporting Board activities to the Governor and Legislature in November of each even-numbered year.