Source: https://www.sos.texas.gov/texreg/archive/October182019/Adopted%20Rules/34.PUBLIC%20FINANCE.html
Timestamp: 2020-03-31 16:21:05
Document Index: 294111865

Matched Legal Cases: ['§51', '§51', '§51', '§51', '§51', '§51', '§51', '§825', '§2261', '§2261', '§51', '§2102', '§2102', 'art 1', '§20', '§53', '§53', 'art 3', '§825']

34 TAC §51.14, §51.15
The Teacher Retirement System of Texas (TRS) adopts two new rules in Chapter 51 of the Texas Administrative Code. Section 51.14 and §51.15 concern enhanced contract monitoring procedures and contract monitoring roles and responsibilities, respectively. Section 51.14 is adopted without changes to the proposed rule text as published in the August 16, 2019, issue of the Texas Register (44 TexReg 4304). The rule will not be republished. Section 51.15 is adopted with nonsubstantive changes and will be republished.
Adopted new rule §51.14 establishes factors that TRS staff must use to determine whether enhanced contract monitoring is necessary. Adopted new rule §51.15 sets out contract monitoring roles and responsibilities of the Internal Audit division, the Procurement and Contracts business unit, and contract sponsors.
TRS received no public comments related to proposed new rules §51.14 and §51.15.
Statutory Authority: The new rules are adopted under the authority of Government Code §825.102, which authorizes TRS to adopt rules regarding the general administration of TRS and the transaction of business of TRS' Board of Trustees (Board).
Cross-Reference to Statute: The adopted new rules affect the following sections of the Government Code: §2261.202 of the Government Code, which requires TRS to adopt a policy by rule that clearly defines the contract monitoring roles and responsibilities of internal audit staff and other inspection, investigative, or audit staff; and §2261.253, which requires TRS to adopt a procedure by rule to identify each contract that requires enhanced contract or performance monitoring and submit information on the contract to the Board.
§51.15.Contract Monitoring Roles and Responsibilities.
The contract monitoring roles and responsibilities of TRS' internal audit staff and other inspection, investigative, or compliance staff are as follows:
(1) the internal audit division will perform audits of the contract management function and systems when they are warranted by the results of risk assessment or included in the audit plan approved by TRS pursuant to Government Code, §2102.005 and §2102.008;
(2) the Procurement and Contracts business unit will seek to improve contract compliance by serving as a central repository for agency contracts so the agency can perform contract compliance reviews;
(3) TRS does not have a criminal enforcement unit. Criminal activity related to agency contracts will be reported to the appropriate authorities as set out in statute;
(4) the contract sponsor that oversees a contract will monitor and report to the Procurement and Contracts business unit regarding contract compliance;
(5) TRS' Procurement and Contracts business unit will assist the administering business unit and contract sponsor in monitoring agency contracts in connection with applicable historically underutilized and minority business contract requirements; and
(6) upon contract close-out, the Procurement and Contracts business unit will file vendor performance reports, as required by the rules of the Comptroller of Public Accounts in 34 TAC Part 1, Chapter 20, Subchapter F, Division 2 (relating to Procurement), §20.509 (relating to Performance Reporting).
Filed with the Office of the Secretary of State on September 30, 2019.
TRD-201903527
For further information, please call: (512) 542-6201
34 TAC §§53.1 - 53.17
The Teacher Retirement System of Texas (TRS) adopts the repeal of §§53.1 - 53.17, found in Title 34, Part 3, Chapter 53 of the Texas Administrative Code regarding the certification of companies offering qualified investment products through what are commonly referred to as 403(b) plans. The repeal is adopted without changes to the proposed text as published in the August 16, 2019, issue of the Texas Register (44 TexReg 4305) and will not be republished.
The repeal is adopted to conform to the statutory revisions enacted by the 86th Legislature, Regular Session, in House Bill 2820, effective September 1, 2019 (hereinafter referred to as "HB 2820").
No comments were received regarding the proposed repeal.
The repealed rules are repealed under the authority of Government Code §825.102, which authorizes TRS to adopt rules regarding the general administration of TRS and the transaction of business of TRS' Board of Trustees (Board).
CROSS-REFERENCE TO STATUTE
HB 2820 rescinds all rulemaking authority previously granted to TRS relating to the administration of 403(b) products. Chapter 53 is titled Certification by Companies Offering Qualified Investment Products. Every rule in Chapter 53 was proposed and adopted under authority that has now been rescinded by HB 2820.
TRD-201903528