40 Tex. Admin. Code § 607.110 - Minimum Educational Training Requirements
(a) First year of service. A new trustee and
a new system administrator shall complete at least seven (7) credit hours of
training in the core content areas within the first year of service. The seven
credit hours shall include training in all of the core content areas. A trustee
or system administrator must earn no less than half a credit hour in each
content area. No more than two credit hours earned in any one core content area
shall be applied toward meeting the 7-hour minimum requirement contained in
this subsection. The core content areas
are:
(1) fiduciary matters;
(2) governance;
(3) ethics;
(4) investments;
(5) actuarial matters;
(6) benefits administration; and
(7) risk management.
(b) A new trustee or system administrator may
submit to the Board an application for a one-time extension period of three
months to complete the first year of service core training requirement, which
the Board may approve in exceptional circumstances. The request for extension
must be approved by the chair of the PRS' board, or, for an extension request
by the PRS board chair, approved by the vice chair of the PRS' board or its
administrator. The application must be submitted to the Board on a form
prescribed by the Board and must include an explanation of the circumstances
necessitating the extension.
(c)
Subsequent years of service. A trustee and a system administrator shall
complete at least two (2) credit hours of continuing education in either the
core content areas in subsection (a) of this section, continuing education
content areas, or any combination thereof, within each calendar year after the
first year of service as a new trustee or new system administrator. The
continuing education content areas
include:
(1) compliance;
(2) legal and regulatory matters;
(3) pension accounting;
(4) custodial issues;
(5) plan administration;
(6) Texas Open Meetings Act; and
(7) Texas Public Information
Act.
(d) A trustee or
administrator may not carry over continuing education credit hours earned in
excess of the requirement under subsection (c) of this section to a subsequent
calendar year.
(e) MET completed up
to six months before the trustee's date of assuming position on the PRS board
or system administrator's hiring date may be counted for the
first-year-of-service requirement in subsection (a) of this section.
(f) A trustee serving concurrently on
multiple PRS boards and a system administrator employed concurrently by
multiple PRSs shall only be required to complete the MET requirements in this
section for service with one PRS, so long as the concurrent service or
employment is reported to the Board pursuant to §
607.140(b)(3) of
this chapter.
(g) Credit hours for
attending MET activities shall be based on net actual instruction time. Credit
hours for viewing or listening to audio, video, or digital media shall be based
on the running time of the recordings, and credit hours for attending in-person
educational programs shall be based on actual instruction time.
(h) A trustee or administrator may gain
credit for teaching an accredited MET activity. Credit hours shall be based on
net actual presentation time, but may not include repeated presentations of the
same activity in a single calendar year.
(i) The Board hereby adopts by reference the
Curriculum Guide for Minimum Educational Training to provide further direction
on core and continuing education content areas as contained in subsections (a)
and (c) of this section. Trustees and system administrators are encouraged to
review the Curriculum Guide for content area guidance.
(j) The Board shall make the Curriculum Guide
for Minimum Educational Training available to the PRSs. A PRS can obtain the
most current version of the Curriculum Guide for Minimum Educational Training
from the offices of the State Pension Review Board and from its website at
http://www.prb.texas.gov.
(k) The 2025 calendar year training cycle for
trustees and administrators shall be based on their MET compliance status on
December 31, 2024, as detailed below. This subsection expires on December 31,
2025.
(1) Trustees and administrators within
their first year of service on December 31, 2024 who have completed by that
date the training required by subsection (a) of this section shall begin their
first continuing education cycle in calendar year 2025.
(2) Trustees and administrators within their
first year of service on December 31, 2024 who have not completed by that date
the training required by subsection (a) of this section shall complete the
first year of service training in calendar year 2025.
(3) Trustees and administrators who began a
continuing education cycle, as required by subsection (c) of this section, in
calendar year 2024 may carry over any hours completed in that year to the
calendar year 2025 continuing education cycle. If a trustee or administrator
completed more than two continuing education hours, those hours will not carry
over to calendar year 2026.
(4)
Trustees and administrators who began a continuing education cycle, as required
by subsection (c) of this section, in calendar year 2023 will begin a new
continuing education cycle on January 1, 2025. Trustees and administrators who
did not complete the training hours required in previous cycles will remain
noncompliant and must complete all outstanding required credit
hours.
Notes
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