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  S.B. No. 483
 
 
 
 
AN ACT
  relating to a biennial report on the investment returns of the
  Employees Retirement System of Texas and the Teacher Retirement
  System of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 802, Government Code, is
  amended by adding Section 802.1085 to read as follows:
         Sec. 802.1085.  BIENNIAL REPORT ON INVESTMENT RETURNS OF
  CERTAIN PUBLIC RETIREMENT SYSTEMS. (a) This section applies only
  to the:
               (1)  Employees Retirement System of Texas; and
               (2)  Teacher Retirement System of Texas.
         (b)  Not later than December 31 of each even-numbered year,
  the governing body of a public retirement system shall submit to the
  governor, the lieutenant governor, and each member of the
  legislature a report that details and compares the assumed rate of
  return and the annualized actual time-weighted rate of return
  achieved by the system for the most recent 1-year, 5-year, 10-year,
  and 20-year fiscal periods. The report must include:
               (1)  for each period, an estimate of what the market
  value of the invested assets of the fund would have been as of the
  most recent fiscal year end had the system achieved the applicable
  assumed rate of return; and
               (2)  a comparison of each estimate described by
  Subdivision (1) and the actual market value of the invested assets
  in the fund as of the most recent fiscal year end.
         (c)  The report required by this section may be combined with
  any other report required by law.
         SECTION 2.  This Act takes effect September 1, 2021.
 
 
 
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
         I hereby certify that S.B. No. 483 passed the Senate on
  April 29, 2021, by the following vote:  Yeas 31, Nays 0.
 
 
  ______________________________
  Secretary of the Senate    
 
         I hereby certify that S.B. No. 483 passed the House on
  May 26, 2021, by the following vote:  Yeas 147, Nays 0, two
  present not voting.
 
 
  ______________________________
  Chief Clerk of the House   
 
 
 
  Approved:
 
  ______________________________ 
              Date
 
 
  ______________________________ 
            Governor