Senate passes TRS bills

The Senate on Tuesday gave final passage to two TRS-related bills.

  • Senate Bill 1671 by Sen. Duncan deals with record confidentiality, dependent definition, and clean-up of outdated language. Sen. Duncan offered a floor amendment that added other TRS bills previously passed by the Senate. They include SB 1667, relating to the administration of and benefits payable by the Teacher Retirement System of Texas and to certain domestic relations orders; SB 1668, relating to purchase of service credit in the Teacher Retirement System of Texas; SB 1669, relating to the resumption of service by retirees under the Teacher Retirement System of Texas; and HB 2561, relating to the definition of “school year” for purposes of the Teacher Retirement System of Texas. 
  • House Bill 1061 by Rep. Otto, extending TRS authority to buy and sell – in order to efficiently manage and reduce the risk of the overall investment portfolio — futures contracts, options, options on futures contracts, swap contracts, contracts intended to manage transaction or currency exchange risk in purchasing, selling or holding investments, and any other instrument commonly used by institutional investors to manage institutional investment portfolios.