The Teacher Retirement System of Texas (TRS) Board of Trustees held its first meeting of 2020 in Austin this week. In addition to receiving typical reports on market trends and internal processes, such as the agency’s new diversity program, the board took action on two major issues regarding TRS space planning and healthcare for both the active and retired educator population.
TRS office space plans
The first day of the board’s two-day meeting was dominated by a discussion of TRS’s space planning needs, including issues surrounding the immediate future location of the TRS Investment Division, which has been in the news as of late. After a lengthy discussion of the history of the agency’s housing over the last two-plus decades, TRS staff recommended the Investment Management Division renew its current lease at 816 Congress Avenue in Austin (an option that was not previously available due to insufficiency of available space in the building). This would be a seven-year lease with a one-time right to terminate the lease if a new headquarters is found to house all of TRS. The recommendation also calls for TRS to sublet space it recently contracted to lease at the new Indeed Tower in downtown Austin. After the board’s vote to accept the recommendation, TRS Board Chairman Jarvis Hollingsworth released the following statement:
“Today, the board considered additional options that recently became available and approved a solution that meets the space needs of our growing investment division, while also demonstrating sensitivity to member concerns.”
The agency will also move forward with consideration of building a new main campus outside of downtown Austin to house at least the staff currently located at the current main campus on Red River Street, potentially bringing all TRS staff back under the same roof.
During Friday’s meeting, TRS staff presented a recommendation, which the board approved, on the network providers for all of the major heath insurance funds managed by the board. TRS released the following press release about the changes, which they say could save the combined health insurance programs of TRS as much as $754 million over the next three to five years.
Staff also updated the board on the TRS-ActiveCare listening tour that is designed to get feedback from the field on the healthcare program for active educators. TRS will use the information it receives to focus their efforts on what are determined to be priority improvements to the system. These discussions include consideration of creating more regional options in addition to the statewide plan.
ATPE will continue to monitor TRS developments and actively engage with the TRS staff and board on the policies impacting active and retired teachers in Texas.