An employee publication of the Texas Department of Criminal Justice
Employee Retirement System update
The Employee Retirement System’s Board of Directors and Investment Advisory Committee met in August and subsequently announced several items of interest for state employees, including the following:
- Steady stock market values for the last 18 months have had a positive effect on the ERS fund portfolio.
- To achieve actuarial soundness for the retirement fund, ERS will make recommendations for adjustments to contribution percentages in October and February.
- A simplified fee structure for the Texa$aver 401(k)/457 Program, which will reduce administrative fees for most account holders, was approved.
- Plans were presented to offer participants in the HealthSelect of Texas and Consumer Directed HealthSelect plans mental health care via online virtual visits, starting September 1, 2018.
Detailed information about the meeting, including materials and videos, is available on the ERS website.