Model Ethical Standards and Conflict-of-Interest Policies
Pursuant to Section 807.210 of the Texas Government Code, the State Pension Review Board (PRB) has developed the following Model Ethics and Conflict-of-Interest Policy for voluntary use by Texas public retirement systems.
Model Ethics and Conflict-of-Interest Policy
The following statutes contain many of the ethical standards and conflict-of-interest and disclosure requirements that may apply to Texas public retirement systems.
State and Local Retirement Systems, Article 16, Section 67, Texas Constitution
Fiduciary Responsibility, Chapter 802, Section 802.203, Texas Government Code
Personal Financial Disclosure, Standards of Conduct, and Conflict of Interest, Chapter 572, Texas Government Code
Regulation of Conflicts of Interest of Officers of Municipalities, Counties, and Certain Other Local Government, Chapter 171, Texas Local Government Code
Disclosure of Certain Relationships with Local Government Officers; Providing Public Access to Certain Information, Chapter 176, Texas Local Government Code
Texas Trust Code, Chapter 113, Texas Property Code
Sample Retirement Systems Ethics Policies
Here are some sample of ethics policies adopted by Texas public retirement systems.
Teacher Retirement System Board of Trustees Ethics Policy
Texas County and District Retirement System Code of Ethics
Houston Municipal Employees Pension System Ethics Policy
Other Best Practice/Ethics Resources
Here are some links to organizations that provide helpful best practices/ethics-related resources.
National Conference on Public Employee Retirement Systems (NCPERS)
Government Finance Officers Association (GFOA)
National Association of State Retirement Administrators (NASRA)
American Federation of State, County and Municipal Employees (AFSCME)
Chartered Financial Analyst Institute (CFA)
Here are some guidelines and checklist for developing an investment policy.
Developing an Investment Policy
GFOA Pension Investment Policies
GFOA Investment Policy Checklist