SENATE RESOLUTION NO. 681
WHEREAS, B. Holland Timmins is retiring from his role as
the chief executive officer of the Texas Permanent School Fund
Corporation on May 31, 2023, drawing to a close an outstanding
career in state investment that has spanned four decades; and
WHEREAS, A seventh-generation Texan and the grandson of a
public school history teacher, Mr. Timmins began his career
serving the Lone Star State in 1983; over the course of his
23-year tenure with the Texas Permanent School Fund Corporation,
the organization's value has grown from $17 billion to more than
$50 billion, and its returns have exceeded the benchmark and
provided an additional value of $1.3 billion to the fund; and
WHEREAS, Along the way, Mr. Timmins has partnered with the
State Board of Education to achieve intergenerational equity for
all students while protecting the Texas Permanent School Fund,
and $18 billion has been distributed to public education over the
last 18 years; following the adoption of a constitutional
amendment in 2003, he worked with the State Board of Education to
direct the transition of the fund from a traditional
stocks-and-bonds income-based investment portfolio to a modern
and diversified total-return investment portfolio; he has also
overseen the successful transition of the Texas Permanent School
Fund's assets and management to the Texas Permanent School Fund
Corporation, a complex effort that merged investments and staff
from two separate state entities into a stand-alone, top-tier
corporation; and
WHEREAS, Under this esteemed professional's able
leadership, the Texas Permanent School Fund Corporation has
earned numerous honors; the organization was named the Sovereign
Wealth Fund of the Year at the 17th Annual Hedge Fund Industry
Awards and the Global Real Estate Investor of the Year at the 2019
IPE Real Estate Global Conference & Awards; it has also been
recognized with the Certificate of Achievement for Excellence in
Financial Reporting by the Government Finance Officers
Association for the past eight consecutive years; and
WHEREAS, Throughout his career, Holland Timmins has
greatly benefited the State of Texas and its public schools, and
he has earned the lasting respect and admiration of his
colleagues and fellow citizens alike; now, therefore, be it
RESOLVED, That the Senate of the State of Texas, 88th
Legislature, hereby congratulate B. Holland Timmins on his
retirement as the chief executive officer of the Texas Permanent
School Fund Corporation and extend to him sincere best wishes for
the future; and, be it further
RESOLVED, That an official copy of this Resolution be
prepared for Mr. Timmins as an expression of high regard from the
Texas Senate.
Eckhardt
________________________________
President of the Senate
I hereby certify that the
above Resolution was adopted by
the Senate on May 26, 2023.
________________________________
Secretary of the Senate
________________________________
Member, Texas Senate