The Texas State Pension Review Board (PRB) was created in 1979 by House Bill 1506, 66th Legislature (Chapter 801, Government Code), as an independent state agency to oversee and review state and local government retirement systems in Texas.
The Board is composed of seven members. The Governor, with the advice and consent of the Senate, appoints seven members with the following qualifications or experience:
- three persons with experience in the field of securities investment, pension administration, or pension law;
- one actuary;
- one person with experience in governmental finance;
- a contributing member of a public retirement system;
- a person receiving benefits from a public retirement system.