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Texas Employees raises target for infrastructure investment this year


Texas Employees raises target for infrastructure investment this year
Texas Employees raises target for infrastructure investment this year
Getty Images
Texas Employees Retirement System, Austin, increased its private infrastructure annual tactical plan for fiscal year 2021 to a total commitment amount of $475 million.
The $32 billion pension fund s new tactical plan, which has an upper range of $617.5 million, was approved at its board meeting Wednesday, said spokeswoman Mary Jane Wardlow in an email.
The prior target for the fiscal year ending Aug. 31 was $400 million. Investment staff recommended increasing the current fiscal year s target for the pension fund s $1.2 billion private infrastructure program due to changes in the market since the plan was originally approved before the beginning of the current fiscal year. ....

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Texas Senate bill would close state pension plan to new employees


Texas Senate bill would close state pension plan to new employees
Bloomberg
The Texas Senate on Wednesday passed a bill that would close the Texas Employees Retirement System s traditional defined benefit plan and move new hires to a cash balance plan.
The bill, passed 19-12 in the Texas Senate, closes the $30.9 billion Austin-based system s traditional defined benefit plan effective Sept. 1, 2022 and state workers hired as of that date would be enrolled in a cash balance plan.
The bill was introduced in order to address the pension fund s unfunded liability of over $14.7 billion, said Texas Sen. Joan Huffman, co-sponsor of the bill, in an email. ....

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Texas Employees picks new DC plan funds, sets pacing plans for alts


Texas Employees picks new DC plan funds, sets pacing plans for alts
Print
Texas Employees Retirement System, Austin, made changes to the investment lineup for its $3.1 billion defined contribution and $1.1 billion 457 plans, according to documents from a March 10 board meeting.
During the meeting, trustees approved adding the Fidelity International Index Fund to ERS Texa$aver retirement plan program, spokeswoman Mary Jane Wardlow confirmed in an email.
Fund officers said in a report to the board that a passive international fund would provide participants greater choice with the opportunity for a lower expense ratio and provide for greater diversification.
Two other new funds ....

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