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Major TRS-ActiveCare Changes Approved
The TRS board during its first-ever virtual meeting (April 17) approved significant revisions to the TRS-ActiveCare health insurance plans for school employees that will become effective on Sept. 1.

The system says that the changes will result in lowered costs for children and families, increased access to providers and a new lower-premium plan.

TRS officials said the changes are expected to result in savings to the ActiveCare contract amounting to $300 million.

Detailed info on the ActiveCare changes are posted here.

Coronavirus Update
The board was also briefed on how the coronavirus pandemic has impacted TRS.

TRS Executive Director Brian Guthrie said that the pension system’s investment portfolio dropped from a fund balance of about $164 billion as of February to about $157 billion currently, but that the decline won’t affect the ability of the system to pay out its pension obligations and that the fund is protected against market declines by being well diversified.

Guthrie also said that the cooling of the office real estate market due to COVID-19 has caused the system to put its facilities planning and office space lease decisions mostly on hold until market conditions stabilize, the Texas Retired Teachers Association reported in its summary of the meeting.

Guthrie said about 90 percent of TRS employees are working remotely, and that he expects 10 to 20 percent of employees will continue to work from home after the crisis ends.

Guthrie also briefed the board on the Sunset Advisory Commission staff report on TRS.

More April 2020 TRS board meeting info:
-- Webcast
-- Comprehensive agenda "board book"