Summary of Report 17-037

June 2017

In our audit report dated May 31, 2017, we concluded that the Schedule of Employer’s Proportionate Shares (Allocations) and the total for all entities of the columns titled net pension liability, total deferred outflow of resources, total deferred inflow or resources, and total pension expense (specified column totals) included in the accompanying Schedule of Pension Amounts by Employer and the related notes as of August 31, 2016, for the Teacher Retirement System (the System) were materially correct and presented in accordance with accounting principles generally accepted in the United States of America. The System intends to post the schedules and our audit report on its Web site at www.trs.texas.gov.

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We also issued a report on internal control over financial reporting of the schedules and on compliance and other matters as required by auditing standards. Our procedures did not identify any material weaknesses in internal control over financial reporting of the schedules or any noncompliance with laws or regulations that materially affected the schedules. In addition, the major internal controls that we tested for the purpose of forming our opinions on the schedules were operating effectively.

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