House Committee on Pensions, Investments and Financial Services

Committee Leadership

Chair

Stan Lambert (R)

House District 71

Abilene

Vice Chair

Mihaela Plesa (D)

House District 70

Dallas

Committee Composition

Committee Membership

Lambert, Stan (R) House District 71 Abilene Plesa, Mihaela (D) House District 70 Dallas Bryant, John (D) House District 114 Dallas Bumgarner, Benjamin (R) House District 63 Flower Mound Garcia, Linda (D) House District 107 Mesquite Hayes, Richard (R) House District 57 Hickory Creek Holt, Janis (R) House District 18 Silsbee Schoolcraft, Alan (R) House District 44 McQueeney Vo, Hubert (D) House District 149 Houston

Most Recent Session Activity

Metrics reflect activity during the most recent legislative session.

Interim Charges

• Monitoring: Monitor the implementation and associated rulemaking of all legislation passed by the Committee and enacted by the 89th Legislature to ensure that legislative purposes are properly implemented, including the following:
  • HB 201, relating to the financial crimes intelligence center; and
  • HB 3526, relating to fiscal transparency for bonds issued by local governmental entities.
• Teacher Retirement System of Texas Review: Review the actuarial soundness of the Teacher Retirement System of Texas, including current contribution levels, defined benefit plan assumptions, and projected liabilities to ensure the long-term financial stability of the system. Evaluate the impact of basing employer contributions on total payroll, options to increase parity in the contribution rates for all entities, and the impact of benefit enhancements.
• Employees Retirement System of Texas Review: Review the actuarial soundness of the Employees Retirement System of Texas, including current contribution levels, plan assumptions, and projected liabilities to ensure the long-term financial stability of the system. Examine past annuitant cost-of-living adjustments, and the impact of one-time and long-term benefit increases.
• Agency Oversight: Pursuant to the broad oversight responsibilities granted to the Committee under Section 301.014, Government Code, and the House Rules of Procedure, monitor the agencies under the Committee’s jurisdiction, including for fraud, waste, and abuse, where applicable. The jurisdiction of the Pensions, Investments, and Financial Services Committee includes the following agencies:
  • The Finance Commission of Texas;
  • The Credit Union Commission;
  • The Office of Consumer Credit Commissioner;
  • The Office of Banking Commissioner;
  • The Texas Department of Banking;
  • The Department of Savings and Mortgage Lending;
  • The Texas Treasury Safekeeping Trust Company;
  • The Texas Public Finance Authority;
  • The Bond Review Board;
  • The Texas Emergency Services Retirement System;
  • The Board of Trustees of the Teacher Retirement System of Texas;
  • The Board of Trustees of the Employees Retirement System of Texas;
  • The Board of Trustees of the Texas County and District Retirement System;
  • The Board of Trustees of the Texas Municipal Retirement System;
  • The State Pension Review Board; and
  • The State Securities Board.