Teacher Retirement System of Texas
Rule Review Plan
In accordance with the Texas Government Code §2001.039, regarding Agency Review of Existing Rules and requiring the Teacher Retirement System of Texas (TRS) and other governmental bodies to review their rules every four years, TRS submits the following Rule Review Plan.
The Policy Committee (committee) of the TRS Board of Trustees (board) has authorized for public comment this Rule Review Plan for the following board rules according to the general schedule set out below:
June 2013 - December 2013:
34 TAC Chapter 53, Certification by Companies Offering Qualified Investment Products
During the review of board rules relating to TRS' 403(b) company certification and product registration program (403(b) program), the committee and board will consider the readoption, amendment, or repeal of rules in Chapter 53. The committee has also authorized public comment publication of a Notice of Intention to Review (Proposed Rule Review Notice) for Chapter 53, which will appear in an upcoming issue of the Texas Register. In response to the Rule Review Plan and Proposed Rule Review Notice, the public will have opportunities to provide comments on the rules in Chapter 53 in writing and by addressing the committee or board at the September 2013 meeting. The Proposed Rule Review Notice to be published in the Texas Register will provide further details regarding public comment on the rules under review.
At the September 2013 meeting, the committee or the board or both will consider authorizing for public-comment publication any proposed changes to the 403(b) program rules resulting from the review of Chapter 53.
At the December 2013 meeting, the committee and the board will consider the proposed adoption of the completed rule review and any changes to Chapter 53 as a result of the rule review. The public will have an opportunity then to comment on the proposed completion of the Chapter 53 rule review and any changes to the rules resulting from the review.
Set out below is the detailed Rule Review Plan for Chapter 53, which is subject to change:
June 14, 2013:The TRS review of Chapter 53 begins. The committee considers filing the proposed Rule Review Plan with the Secretary of State and authorizing public-comment publication of the Proposed Rule Review Notice in the Texas Register. The public is given the opportunity to comment on the scope and schedule of the proposed rule review.
September 12-13, 2013: The committee considers authorizing public-comment publication of any rule changes needed in Chapter 53 as a result of the rule review. The public is given the opportunity to comment on the rule review and any proposed changes to rules in Chapter 53.
December 12-13, 2013: The committee and the board consider the adoption of the completed rule review of Chapter 53. In connection with completing the rule review, the committee and board consider adopting any changes to rules in Chapter 53 and readopting the remaining ones without changes. The public is given the opportunity to comment on the proposed completion of the rule review, the adoption of any rule changes, and the readoption of 403(b) rules without changes.
Comments regarding the contents of this Rule Review Plan may be submitted in writing to Brian K. Guthrie, Executive Director, Teacher Retirement System of Texas, 1000 Red River Street, Austin, Texas 78701.