Employees Retirement System of Texas

Employees Retirement System of Texas

Employees Retirement System of Texas
Last update 2021-05-14 725 Stocks (136 new)
Value $7.72 Bil Turnover 20 %
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Employees Retirement System of Texas Profile

The Employees Retirement System of Texas is a service oriented trust agency of the Texas state government. The agency was established in 1947 by the constitution and provides retirement and other benefit programs for state employees, retirees and their dependents. The Employees Retirement System of Texas is headquartered at Austin, the state capital, and is headed by a Board of Trustees who direct the policies of the system through the Executive Director. The Executive Director in turn operates the day to day business of the system through the COO, who delegates various operations to the Benefit Contracts, Information Systems, Finance, Operations Support, and Customer Benefits divisions. The Executive Director also oversees the operations of the Investments segment of the system, which is further split up into various teams for Real Estate, Fixed Income, Investment Services, Private Equity, Public Equity, Risk Management and Applied Research, and Hedge Funds. The Employees Retirement System of Texas’s Texas Employees Group Benefits Program currently has over half a million participants including over 200 thousand employees, 100 thousand retirees, and 2000 dependents. The Employees Retirement System of Texas also provides retirement benefits for eligible members through dedicated funds: the ERS for employees and elected officials, the LECOSRF for law enforcement and custodial officers, and JRS 1 and JRS 2 for judges. In total, the system manages a trust fund with over $26 billion in assets, providing over $2 billion in benefit payments annually to almost 100,000 retirees and beneficiaries with approximately 135,000 contributing members. The Employees Retirement System of Texas invests most heavily in the finance sector, which alone makes up over a quarter of its total asset allocations, and also invests in the information technology, health care, consumer discretionary, industrials, consumer staples, and energy sectors, among others to a lesser degree, in order of decreasing allocation.

Employees Retirement System of Texas Investing Philosophy

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