The Teacher Retirement System (TRS) Board of Trustees met Thursday in Austin. Trustees welcomed the newest board member appointed by Gov. Greg Abbott (R): Laronda Graf of Queen City. Graf, whose term will expire Aug. 31, 2029, serves as the human resources director for Atlanta ISD  and is a 22-year public education veteran. She is a member of the Texas Association of School Business Officials (TASBO). 

The TRS Board of Trustees acts as a fiduciary of all plan assets and is responsible for general administration and operation of the system. The board is composed of nine appointed members serving staggered terms of six years. Graf’s appointment is not related to the current nomination period for the expiring trustee position representing public school district employees. That nomination period closed Jan. 27, 2025, and will be followed by an election March 17–May 30, 2025. The top three candidates for the open position will be submitted for the governor’s consideration and appointment for a term beginning as early as Sept. 1, 2025. 

TRS Executive Director Brian Guthrie gave a similar report to the TRS board as he has recently made to the Senate Finance and House Appropriations committees. Regarding Senate Bill (SB) 2 by Sen. Brandon Creighton (R–Conroe), which is the Senate’s priority  voucher legislation, Guthrie told the board that the actuary was asked to speculate under what circumstances vouchers could affect the solvency of the TRS pension fund and that the actuary’s statement had been “taken out of context” but that it was “not the reality and simply a stress test and far from reality for that to be a reality.” ATPE remains concerned about the situation. In making projections about overall staffing and payroll levels statewide the actuary has not taken into consideration recent school closures, hiring freezes, and reductions in force (RIFs) already underway across the state based on school district budget deficits. Guthrie stated: “The actuaries always assume the worst. For the last 10 years, we’ve had an increase despite a stagnant school population. We don’t assume that growth and just looking at SB 2, there would be no negative impact on TRS.”  When asked by trustee David Corpus about population growth and stability of the state’s economy, Guthrie replied that the actuary is assuming a stable population based on the latest report. Guthrie admitted other factors go into the actuarial soundness of the pension. The next actuarial assumption study will start this fall for adoption next summer. 

Guthrie is concerned about teacher pay raise bill SB 26, also by Creighton, stating that “adding additional pay raises into the system for all teachers will have a negative impact on the fund.”  He told the board he has expressed this concern to legislators and that TRS expects to be made whole (fully funded) if this bill passes. SB 26 was passed by the full Senate Wednesday and is now on the way to the House. 

Where to direct WEP/GPO questions 

Guthrie reported to the board on the passage of the federal Social Security Fairness Act, which repealed the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), two provisions in Social Security law that unfairly reduced the benefits received by most Texas educators for a period of more than 40 years. Guthrie recommended TRS members with questions about the impact on their Social Security benefits contact the Social Security Administration, not TRS.  

Guthrie continued by saying that after claims by the new federal Department of Government Efficiency (DOGE) that people who are 150 years old (and thus deceased) are still receiving Social Security, TRS staff double-checked their processes for detecting fraud and ensuring payments are not sent to the deceased. Staff did find and reported that TRS has one 111-year-old retiree receiving benefits in Texas. 

Upcoming TRS relocation 

TRS will start moving employees to the new “Bravo” building next month. Guthrie and the government relations team will not move until the legislative session end, but the lease ends on the current building June 30. TRS members may start visiting the new Bravo building April 20. The April TRS board meeting will be the last board meeting in the current building. 

View the entire TRS February Board Book for more information.