Investment Policies

Section 802.202, Texas Government Code requires Texas public retirement systems to adopt a written investment policy. The law does not mandate the type or ratio of investments. The written investment policy must be available to the public for review, and a copy must be filed with the Pension Review Board within 90 days of adoption.

Under Section 27(d), Article 6243e, Vernon’s Civil Statutes, TLFFRA systems are also required  adopt formal investment policies that emphasize safety, diversity, and liquidity for benefit payments.

Developing an Investment Policy


The Texas Pension Review Board (PRB) is requesting feedback of its investment policy statement guidelines, guidance, tool, and template example that were presented at the PRB Investment Committee meeting on November 21, 2023. The meeting’s recording is available here.

Linked below are the documents that we would like feedback on. If you have any questions, please contact our office. Please have all feedback submitted to [email protected].