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.
The main purpose of this section is to provide a convenient source of reference. The laws and constitutional provisions as published in the official laws of the state will prevail in all questions of interpretation and application. In addition, the links below, while providing general information, are not intended to be a substitute for independent legal research or the advice of an attorney.
Here you will find information about statutes and rules regarding the Constitutional Authority of the Legislature, public retirement systems in general, statewide public retirement systems, Vernon’s Texas Civil Statutes, and the Pension Review Board rules.
The PRB is mandated to oversee all Texas public retirement systems, both state and local, in regard to their actuarial soundness and compliance with state law. Our mission is to provide the State of Texas with the necessary information and recommendations to ensure that our public retirement systems, whose combined assets total in the multi-billions, are actuarially sound, benefits are equitable, the systems are properly managed, tax expenditures for employee benefits are kept to a minimum while still providing for those employees, and to expand the knowledge and education of administrators, trustees, and members of Texas public pension funds.
Click here to view career opportunities with the Pension Review Board.