A Performance Audit
An Audit Report on Incentive Compensation at the Permanent School Fund Corporation, Teacher Retirement System, and Employees Retirement System
August 2024
Overview
The Permanent School Fund Corporation (PSF Corporation), Teacher Retirement System (TRS), and Employees Retirement System (ERS) calculated and paid incentive compensation in accordance with their plan policies and procedures for their 2023 plan years.
As a result of Senate Bill 1232 (87th Legislature, Regular Session), the administration of the performance incentive pay plans for the Texas Education Agency’s PSF Division and the General Land Office were transferred to the PSF Corporation for plan year 2023. Going forward, the PSF Corporation will establish its own incentive compensation plan.
