Board of Trustees
Trustees
Trustee Responsibilities
The TMRS Act places the responsibility for the administration of TMRS with a six-member Board of Trustees (Board) appointed by the Governor with the advice and consent of the Texas Senate. Trustees serve terms of six years and must be an active TMRS member employed by a TMRS participating city. Trustees are fiduciaries and have a duty of loyalty to always act in the best interest of TMRS and its members, retirees, and beneficiaries. The Board, which meets at regularly scheduled public meetings, also:
- Establishes plans, policies and rules for sound Board governance and the operation of the System and the timely and efficient delivery of member services;
- Adopts an investment policy statement and asset allocation for the investment of Trust Fund assets and monitoring the Trust Fund’s performance;
- Adopts an actuarial funding policy and standards to set participating city contribution rates;
- Hires and monitors the performance of the Executive Director; and
- Retains the services of independent consultants, including actuaries, financial auditors, fiduciary and legal counsel, investment advisors, and physicians.
2026 Meeting Dates
- February 18 – 20, Board Retreat – Location TBD
- March 26, Board of Trustees Meeting – Austin
- June 25, Board of Trustees Meeting – Austin
- September 24, Board of Trustees Meeting – Austin
- December 10, Board of Trustees Meeting – Austin
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December 11, 2025
November 6, 2025
October 2, 2025
September 18, 2025
August 28, 2025
June 12, 2025
May 20, 2025
March 27, 2025
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December 19, 2024
October 24, 2024
September 19, 2024
June 27, 2024
May 23, 2024
March 28, 2024
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December 14, 2023
Board Meeting AgendaSeptember 28, 2023
Board Meeting AgendaJune 22, 2023
Board Meeting AgendaMay 25, 2023
Board Meeting AgendaMarch 23, 2023
Board Meeting AgendaFebruary 16, 2023
Board Meeting Agenda -
December 8, 2022
Board Meeting Agenda and MaterialsOctober 27-28, 2022
Board Retreat AgendaSeptember 22, 2022
Board Meeting Agenda and MaterialsSeptember 21, 2022
Board Meeting AgendaJune 23, 2022
Board Meeting Agenda and MaterialsMay 26, 2022
Board Meeting Agenda and MaterialsMarch 24, 2022
Board Meeting Agenda and MaterialsFebruary 11, 2022
Board Meeting Agenda and Materials -
December 2, 2021
TMRS Board Meeting Agenda
Links to materials are in the agenda.TMRS Advisory Committee on Benefit Design Agenda
October 28, 2021
TMRS Board Meeting Agenda
Links to materials are in the agenda.September 23, 2021
TMRS Board Meeting AgendaAugust 19, 2021
TMRS Board Meeting AgendaTMRS Advisory Committee on Benefit Design Agenda
Presentations for August 19
June 24, 2021
Presentations for June 24
- CLA - 2020 Financial Statement and System and Organization Controls Audit Results
- Comprehensive Annual Financial Report for the Year Ended December 31, 2020
- RVK - Asset Allocation Study
- RVK - Asset Class Benchmarking
- Annual Review: Real Estate
- Annual Review: Real Return
May 27, 2021
Presentations for May 27
- Actuarial Valuation Report as of December 31, 2020
- Custody Bank Search Recommendation
- Quarterly Board Executive Summary Presentation for period ended: March 31, 2021
- Investment Activity Report for Public and Private Markets for March and April 2021
April 29, 2021
TMRS Board Retreat AgendaPresentations for April 29
- Investment Risk and Risk Tolerance
- Investment Performance Reporting & Benchmarking
- Enhancing Communication to and Service for Members and Participating Cities
- Ongoing Board Education
March 25, 2021
TMRS Board Meeting AgendaPresentations for March 25
- Benefit Accumulation Fund Interest Rate Credit Recommendation for 2020
- Review and Discussion of the 2020 Plan for External Financial Statement and System and Organization Controls Audits
- Annual Review: Global Public Equity
- Executive Summary • Period Ended: December 31, 2020
February 18, 2021
TMRS Board Meeting Agenda -
December 3, 2020
TMRS Board Meeting AgendaPresentations for December 3
- Consider and Act on Potential 2021 Legislation Concerning Return-to-Work and COLA Provisions
- Consider and Act on Appointments to the Advisory Committee on Benefit Design
- Executive Summary
- Recommendations for Updating the Board’s Investment Beliefs Statements
- Private Equity Manager Recommendation
- Annual Review: Fixed Income
- Quarterly Board Presentation, Period Ended: September 30, 2020
October 22, 2020
TMRS Board Meeting AgendaPresentations for October 22
- TMRS Geographic Disparity • Participating Cities
- Annual Board Review: Private Equity
- Executive Summary • Operating Budget Distribution
September 16–18, 2020
Advisory Committee on Benefit Design Meeting Agenda | TMRS Board Meeting AgendaPresentations for September 17
- RVK - Definitions, Current Practice and a Path Forward • September 17, 2020
- Private Equity Co-Investment
- 2020 Absolute Return Asset Class Review
August 20, 2020
TMRS Board Meeting AgendaPresentations for August 20
- Investment Beliefs Statements
- RVK - Asset Allocation Study • June 2020
- RVK - Board Presentation/Executive Summary • Period Ended: June 30, 2020
- 2020 Real Estate & Real Return Asset Class Review
- Senior Staff Action Plan
July 13, 2020
TMRS Board Meeting AgendaJune 25–26, 2020
TMRS Board Meeting Agenda | June 25Presentations for June 25
- MOSIAC - Work Plan Discussion
- RVK - Recommended Investment Belief Statements
- CLA - 2019 Financial Statements and System and Audit Results
- Overview of the 2019 TMRS CAFR
- Governmental Relations Consultant
TMRS Board Meeting Agenda | June 26
May 28, 2020
TMRS Board Meeting AgendaPresentations for May 28
- Review and Discussion of 2021 Legislative Agenda
- GRS - Actuarial Valuation Report as of December 31, 2019
- NASRA - An Update on Public Pensions: Where They Are and How They’re Changing
- Annual Economic Outlook
- RVK - Evaluation of Investment Practices
- RVK - 1Q Investment Report
- RVK - Investment Beliefs—Next Steps
March 24, 2020
TMRS Board Meeting AgendaPresentations for March 24
- GRS - Benefit Accumulation Fund Interest Rate Credit Recommendation for 2019
- MOSIAC - Addressing Board Committees’ Legislative Related Needs
- Review and Discussion of 2021 Legislative Agenda
- Pension Administration System Modernization Program (PASMod)
- Public Equity Asset Class Review
March 6–7, 2020
TMRS Board Meeting AgendaFebruary 13–14, 2020
TMRS Board Meeting AgendaPresentations for February 13
- Non-Core Fixed Income Recommendation
- Private Equity Recommendations
- Real Estate Recommendation
- Review of Process for Retaining, Managing and Terminating Investment Managers
Presentations for February 14
- CEM Benchmarking - Pension Administration Benchmarking Results
- CEM Benchmarking - Investment Cost Effectiveness Analysis
- Review of Risk Management Program
- RVK - Board Presentation/Executive Summary
- MOSIAC - Governance Policy Manual
- MOSIAC - Board Telephone Conferencing and Videoconferencing Policy
- Actuarial Services Department Overview
January 24, 2020
TMRS Board Meeting AgendaPresentations for January 24
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August 28, 2025
June 12, 2025
May 20, 2025
March 27, 2025
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December 19, 2024
October 24, 2024
September 19, 2024
June 27, 2024
May 23, 2024
March 28, 2024
TMRS Board Meeting Minutes -
December 14, 2023
TMRS Board Meeting MinutesSeptember 28, 2023
TMRS Board Meeting MinutesJune 22, 2023
TMRS Board Meeting MinutesMay 25, 2023
TMRS Board Meeting MinutesMarch 23, 2023
TMRS Board Meeting MinutesFebruary 16, 2023
TMRS Board Meeting Minutes -
December 8, 2022
TMRS Board Meeting MinutesOctober 28, 2022
TMRS Board Meeting MinutesOctober 27, 2022
TMRS Board Meeting MinutesSeptember 22, 2022
TMRS Board Meeting MinutesSeptember 21, 2022
TMRS Board Meeting MinutesJune 23, 2022
TMRS Board Meeting MinutesMay 26, 2022
TMRS Board Meeting MinutesMarch 24, 2022
TMRS Board Meeting MinutesFebruary 11, 2022
TMRS Board Meeting Minutes -
December 2, 2021
TMRS Board Meeting MinutesDecember 1, 2021
TMRS Advisory Committee MinutesOctober 28, 2021
TMRS Board Meeting MinutesSeptember 23, 2021
TMRS Board Meeting MinutesSeptember 8, 2021
TMRS Audit Committee MinutesAugust 19, 2021
TMRS Board Meeting Minutes
TMRS Advisory Committee Minutes
June 24, 2021
TMRS Board Meeting MinutesJune 9, 2021
TMRS Audit Committee MinutesMay 27, 2021
TMRS Board Meeting MinutesApril 29, 2021
TMRS Board Meeting MinutesMarch 25, 2021
TMRS Board Meeting Minutes -
December 3, 2020
TMRS Board Meeting MinutesOctober 22, 2020
TMRS Board Meeting MinutesSeptember 17, 2020
TMRS Board Meeting MinutesSeptember 16, 2020
TMRS Advisory Committee MinutesAugust 20, 2020
TMRS Board Meeting MinutesJuly 13, 2020
TMRS Board Meeting MinutesJune 25-26, 2020
TMRS Board Meeting MinutesMay 28, 2020
TMRS Board Meeting MinutesMarch 24, 2020
TMRS Board Meeting MinutesMarch 6-7, 2020
TMRS Board Meeting MinutesFebruary 13-14, 2020
TMRS Board Meeting MinutesJanuary 24, 2020
TMRS Board Meeting Minutes
Board Committees
Advisors
Actuary
Gabriel, Roeder, Smith & Company
Fiduciary Counsel
Robert Klausner, Esq.
Klausner, Kaufman, Jensen & Levinson
Independent Auditor
CliftonLarsonAllen LLP
Investment Consultants
Albourne America LLC
NEPC
Medical Board
Ace Alsup III, MD
W. Deaton, MD
William Taylor, MD