LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION March 14, 2011 TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Introduced No fiscal implication to the State is anticipated. The bill increases the allowable amount that the Teacher Retirement System (TRS) can invest in hedge funds from 5 percent to 10 percent of the total investment portfolio. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:323 Teacher Retirement System LBB Staff: JOB, AG, JGM, JW
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
March 14, 2011
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Introduced
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Introduced
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Introduced
HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill increases the allowable amount that the Teacher Retirement System (TRS) can invest in hedge funds from 5 percent to 10 percent of the total investment portfolio.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 323 Teacher Retirement System
323 Teacher Retirement System
LBB Staff: JOB, AG, JGM, JW
JOB, AG, JGM, JW