Texas HB3474 amends investment evaluation and reporting requirements for public retirement systems.

Texas HB3474 amends the Texas Government Code to modify the evaluation and reporting requirements for investment practices and performance of certain public retirement systems. The Pension Review Board must establish a schedule for evaluations, which are required every three years for systems with total pension liability of at least $100 million and every six years for systems with total pension liability of at least $30 million but less than $100 million. Systems with less than $30 million in assets are exempt from evaluations. The first evaluation report is due by September 1, 2026.

Texas HB3474 amends investment evaluation and reporting requirements for public retirement systems.

Texas HB3474 amends the Texas Government Code to modify the evaluation and reporting requirements for investment practices and performance of certain public retirement systems. The Pension Review Board must establish a schedule for evaluations, which are required every three years for systems with total pension liability of at least $100 million and every six years for systems with total pension liability of at least $30 million but less than $100 million. Systems with less than $30 million in assets are exempt from evaluations. The first evaluation report is due by September 1, 2026.