An Audit Report on Incentive Compensation at the Teacher Retirement System, the Employees Retirement System, and the Permanent School Fund
May 2012
Report Number 12-030
Overall Conclusion
Through their incentive compensation plans for fiscal year 2011, the Teacher Retirement System (TRS), the Employees Retirement System (ERS), and the Permanent School Fund (PSF) of the Texas Education Agency made incentive compensation awards to employees in accordance with their policies and procedures.
Those three entities awarded a total of $9,022,838 in incentive compensation to 180 employees for fiscal year 2011. Those employees worked in each entity's investment division.