Section 802.109, Texas Government Code requires Texas public retirement systems with assets of at least $30 million to select an independent firm with substantial experience to evaluate the appropriateness, adequacy, and effectiveness of the system’s investment practices and performance and to make recommendations for improving its investment policies, procedures, and practices.
The PRB provides informal IPPE guidance to assist systems in defining the scope and content of the evaluation.
Per statute, the PRB is required to submit an investment performance report to the governor and legislative leadership offices that compiles and summarize information received in the evaluations. The 2024 Investment Performance Report contains aggregate analysis of the evaluations, summaries of each individual evaluation and resources including a compilation of references from the evaluations to help systems access best practices and relevant benchmarking resources. A new edition of the Investment Performance Report will be available later this year.
Please find the most recently completed evaluations below.
