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House Committee on Pensions, Investments, and Financial Services - 86th R.S. (2019)

Committee: House Pensions, Investments, and Financial Services
Title: Interim Report
Subjects: Attorney General of Texas | Consumer credit | Consumer Credit Commissioner, Office of | Consumer protection | Employees Retirement System of Texas | Investment of public funds | Pension liabilities | Private retirement systems | Public retirement systems | Small businesses | Teacher health insurance | Teacher Retirement System of Texas |
Library Call Number: L1836.86 P387
Session: 86th R.S. (2019)
Online version: View report [42 pages  File size: 2,254 kb]
Charges: This report should address the charges below.
1. Monitor the agencies and programs under the Committee's jurisdiction and oversee the implementation of relevant legislation passed by the 86th Legislature. Conduct active oversight of all associated rulemaking and other governmental actions taken to ensure intended legislative outcome of all legislation, including the following:
  • HB 1442, which is the sunset bill for the Office of Consumer Credit Commissioner (OCCC). The legislation contains provisions relating to the regulation of online lenders. Monitor the OCCC's rules regulating the online lending industry.
  • HB 2945, which relates to consumer protection against credit card skimmers. Monitor the Office of the Attorney General’s (OAG) rules, polices, and procedures regulating the payment terminals on motor fuel dispensers and credit card skimmer violations. Examine the process by which the OAG creates, manages, and utilizes the payment fraud fusion center.
  • SB 322, which relates to the evaluation and reporting of investment practices and performances of certain public retirement systems. Examine the process by which state agencies and public retirement systems collaborate on, plan, and implement the structure necessary to perform these evaluations.
  • SB 2224, which relates to requiring a public retirement system to adopt a written funding policy. Examine the process by which state agencies and public retirement systems collaborate on, plan, and implement the structure necessary to create sound and practical funding policies.
2. Monitor the Teacher Retirement System's (TRS) actions in implementing high deductible regional plans for certain school districts interested in providing alternatives to the current TRS Active Care options.
3. Study pension plan and personal retirement savings options for small businesses in order to be competitive with state and larger employers.
4. Review and evaluate the actuarial soundness of the Employees Retirement System and TRSpension funds. Examine the cost of and potential strategies for achieving and maintaining the actuarial soundness of the funds. Examine the effect the unfunded liabilities could have on the state's credit. Examine the state's investment policies and practices, including investment objectives, targets, disclosure policies, and transparency. (Joint charge with the House Committee on Appropriations)
5. Monitor the State Auditor's review of agencies and programs under the Committee's jurisdiction. The Chair shall seek input and periodic briefings on completed audits for the 2019 and 2020 fiscal years and bring forth pertinent issues for full committee consideration.

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