Topic: TRS

Texas AFT Testifies on TRS Issues at Capitol Hearing

At a Texas Senate hearing today Texas AFT urged lawmakers to step up the state’s contributions to the Texas Teacher Retirement System’s pension fund. Texas AFT spokesman Ted Melina Raab noted that the official TRS budget request calls for such an increase in the coming two-year budget cycle. Melina Raab also urged the legislature to go beyond its current level...

Read More

News from the Texas Teacher Retirement System

Pension Fund:  Texas AFT today urged the Texas Teacher Retirement System board of trustees to review its policies and standards and make any and all changes necessary to bar political interference in TRS investment decisions. Texas AFT spokesman Ted Melina Raab noted the recently disclosed allegations by a top TRS investment-staff insider of politically influenced decision-making, and he said TRS...

Read More

TRS Board Meets This Week to Assess Condition of Pension, Health Funds

This Week to Consider Condition of Pension, Health Funds: The board of trustees of the Texas Teacher Retirement System meets on Friday, November 12, to consider the actuarial condition of the TRS pension fund and TRS-Care health plan for retirees, among other topics. Texas AFT will be on hand to provide a full report. You can tune in to a...

Read More

Send a Message to Lawmakers: Inquiry Needed Into Allegations of Political Interference at TRS

Texas AFT has prepared for your use a letter to your state legislators and legislative leaders calling for a full, independent, impartial investigation into serious allegations of political interference with investment decisions affecting your pension dollars at the Texas Teacher Retirement System. Here is the full text of that letter; you can send it directly to your state senator, your...

Read More

State Teacher Leader Calls for Legislative Inquiry into Alleged Improper Political Influence Over Investment of TRS Pension Fund

Texas AFT President Linda Bridges is not letting up on the issues raised by a whistleblower's allegations of improperly politicized investment decisions affecting your pension fund at the Texas Teacher Retirement System. Yesterday the following letter from Bridges went to the presiding officers of  the Texas Senate and House, Lt. Gov. David Dewhurst and Speaker Joe Straus, calling on lawmakers...

Read More

Texas AFT Retirees’ Concerns Over Politically Influenced Investment of Pension Funds Draw Media Attention to a Pattern of “Questionable Dealing”

Yesterday’s call by retired Texas AFT members in Dallas for a genuinely independent, impartial investigation of alleged political influence over the investment of their Texas Teacher Retirement System pension fund has set off media reverberations statewide. In Austin, the main daily newspaper gave the story front-page treatment, in a story entitled "Teachers, retirees question independence of pension fund investigator." An...

Read More

Whistleblower Allegations of Political Influence in TRS Pension Investments Merit Further, Credible Investigation

Retired school employees drawing pensions from the Texas Teacher Retirement System gathered in Dallas today to call for a thorough and credible investigation into recently disclosed charges by a TRS whistleblower, who said pension-fund managers and trustees have made investment decisions based on political influence rather than the best interests of pensioners. An internal TRS investigation that concluded there was...

Read More

Alleged Improprieties in TRS Investment Decisions: Questions Need Better Answers

Allegations of serious improprieties by Teacher Retirement System trustees and the top TRS investment officer have come to light with the publication today of a whistleblower memo written by a key official in the TRS investment division. The April 2009 memo from Michael Green, at the time TRS director of private-markets investments, was obtained and released by the Bill White...

Read More

Texas AFT Speaks Out for Active and Retired School Employees at TRS Budget Hearing

Texas AFT legislative spokesman Ted Melina Raab called for "decent pensions and health care for all education employees, active and retired" in testimony at a state Legislative Budget Board hearing today. Melina Raab said Texas AFT supports the full spending request submitted by the Texas Teacher Retirement System, which seeks a sizable boost in the state's contribution rate to the...

Read More