Texas Association of Public Employee Retirement Systems (TEXPERS)

Texas Association of Public Employee Retirement Systems (TEXPERS) The Association provides the highest quality education and services to its participating retirement systems and affiliate members. Visit www.texpers.org.

TEXPERS is a statewide nonprofit educational association serving trustees, administrators, professional service providers, employee groups, and associations whose members are engaged in or interested in managing public employee retirement systems. A small group of individuals, who were members of several Texas public employee retirement systems, formed the Texas Association of Public Employee Reti

rement Systems (TEXPERS) in 1989 as a statewide voluntary nonprofit association to provide quality education to trustees, administrators, professional service providers, and employee groups and associations engaged or interested in the management of public employee retirement systems. By uniting Texas public pension systems, TEXPERS works for their common interests, monitors state and federal legislative activities, and enhances professional fund management and administration. Over the past twenty years, TEXPERS system and associate membership has grown substantially. We generally only post 8a-5p Mon-Fri. We will remove any profane, discriminatory, abusive, potentially malicious, or personal attack items, as well as items deemed as SPAM. We disclaim liability for external content. Looking for more information about TEXPERS?

Joe Gimenez, founder of G3 Public Relations, discusses “AI Chatbots for Pension Systems” during the TEXPERS 2026 Summer ...
08/04/2026

Joe Gimenez, founder of G3 Public Relations, discusses “AI Chatbots for Pension Systems” during the TEXPERS 2026 Summer Educational Forum in San Antonio.

The session explores how pension systems can use conversational AI to strengthen member communications, respond to common questions and make important information more accessible.

Key insights from “The Actuarial Edge: How Longevity Data Is Reshaping Institutional Investing” session:Elena Plesco, ch...
08/04/2026

Key insights from “The Actuarial Edge: How Longevity Data Is Reshaping Institutional Investing” session:

Elena Plesco, chief investment officer at ABACUS Global Management, Inc., explored longevity assets, life settlements, and the growing role of data in institutional investing during the TEXPERS 2026 Summer Educational Forum.

1. Life insurance is personal property. Like a home or vehicle, a life insurance policy is an asset that may be sold. A life settlement provides policyholders with a third option beyond allowing a policy to lapse or accepting its cash-surrender value.

2. The market opportunity is substantial. Approximately $200 billion to $225 billion in life insurance policies lapse annually. Abacus transacted approximately $4 billion in policies last year.

3. Longevity assets offer a differentiated investment profile. Investors assume responsibility for paying a policy’s premiums and receive its face value when the insured dies and the claim is collected. Because performance is driven primarily by mortality, these assets are not tied directly to the S&P 500 or broader economic cycles.

4. Risk management remains essential. Underlying policies are generally issued by highly rated insurance carriers. Abacus emphasizes asset selection, a sufficient margin of error and liquidity reserves to help protect investor principal. Plesco said discount rates typically range from 12% to 15%, depending on the risk profile and cost structure.

5. Liquidity is built into the strategy. Reserves generally range from 5% to 10% for actively managed funds and may reach 15% for securitizations.

Elena Plesco, chief investment officer of ABACUS Global Management, Inc., presented "Enhancing Pension Fund Viability wi...
08/04/2026

Elena Plesco, chief investment officer of ABACUS Global Management, Inc., presented "Enhancing Pension Fund Viability with Longevity & Data Assets" during the final day of the TEXPERS 2026 Summer Educational Forum in San Antonio on Aug. 4.

The session examined the potential role of longevity and data assets in supporting pension funds’ long-term financial sustainability. Global Management

The final day of the TEXPERS 2026 Summer Educational Forum opened with the fireside chat, “Between the Pitch and the Vot...
08/04/2026

The final day of the TEXPERS 2026 Summer Educational Forum opened with the fireside chat, “Between the Pitch and the Vote: What Happens Before a Recommendation Reaches Your Board.”

Pictured from left are panelists Adele Lopez Tagaloa, general board member of the Orange County Employees Retirement System, and Luis Sierra, CFA, vice president of Marquette Associates, Inc., and moderator Jessica Leon, co-founder and partner of Arboris Capital Partners.

Together, they gave attendees a behind-the-scenes look at the evaluation and decision-making that takes place before an investment recommendation reaches a pension system’s board for consideration.

Final Day of the 2026 Summer Educational Forum Set to BeginThe final day of the TEXPERS 2026 Summer Educational Forum is...
08/04/2026

Final Day of the 2026 Summer Educational Forum Set to Begin

The final day of the TEXPERS 2026 Summer Educational Forum is about to kick off!

We’ll begin with the fireside chat, “Between the Pitch and the Vote: What Happens Before a Recommendation Reaches Your Board, from 8:30 to 9:05 a.m. in Navarro Ballroom A.

Join us for a behind-the-scenes look at the evaluation and decision-making process that takes place before an investment recommendation is presented to a pension system’s board for consideration.

Make your way to Navarro Ballroom A—we’ll see you there!

Thanks again to our Presenting Sponsor: Dimensional Fund Advisors and all the other supporters and exhibitors who made this year's Forum possible!

Fund Advisors

📸 More scenes from today’s TEXPERS 2026 Summer Educational Forum!Courtney Scott of Dimensional Fund Advisors, the Forum’...
08/03/2026

📸 More scenes from today’s TEXPERS 2026 Summer Educational Forum!

Courtney Scott of Dimensional Fund Advisors, the Forum’s Presenting Sponsor, served as emcee for an afternoon filled with timely discussions on artificial intelligence, global technology, fixed income, and alternative investment strategies.

Nicholas Chung of RAYS Capital Partners presented “The Global AI Engine: Why the Future of Computing Runs Through Taiwan,” exploring Taiwan’s essential role in semiconductor manufacturing and the global AI supply chain.

Attendees then selected from two concurrent breakout sessions:

🔹 “Bonds Are Boring … Until They’re Not!” featured panelists Justo Gonzalez of Garcia Hamilton & Associates and Adam Abbas of Harris Oakmark, with TEXPERS Executive Director Art Alfaro stepping in as moderator.

🔹 “The Correlation Escape” featured Chris Goodwin of Star Mountain Capital, Joshua Davis of Stellus Capital Management and Maurice Dukes of Investment ALTS, moderated by Emily Moran of NEPC.

Adam Rich, deputy chief investment officer and portfolio manager at Vaughan Nelson Investment Management, later presented “Nothing Else Matters: Why Artificial Intelligence ROIC—Not the Fed—Will Determine the Winners of 2027 and Beyond.”

And because great conversations deserve a cool treat, Jim Smith of WCM Investment Management served attendees traditional Mexican paletas from a festive cart!

It was a full afternoon of education, discussion and connection as TEXPERS continued exploring what it takes to build resilient futures.

Key insights from the TEXPERS 2026 Summer Educational Forum: Taiwan’s semiconductor landscape and its critical role in t...
08/03/2026

Key insights from the TEXPERS 2026 Summer Educational Forum: Taiwan’s semiconductor landscape and its critical role in the future of AI.

🔹 Market dominance: TSMC and other Taiwanese firms are involved in nine out of every 10 AI server systems worldwide. TSMC has committed $260 billion to U.S. investment, with other Taiwanese firms expected to contribute an additional $50 billion to $80 billion.

🔹 Yield economics: TSMC reportedly maintains production yields of approximately 80% or higher on advanced 3nm and 2nm chips, compared with roughly 45% to 50% for competing technologies such as Intel’s 18A process.

🔹 The AI supply chain:

* Upstream chip designers: Nvidia, AMD and Broadcom
* Midstream manufacturing and packaging: TSMC and ASE
* Downstream server assembly: Foxconn and Quanta
* End users: U.S. hyperscalers and AI companies, including Amazon, Meta, Google, SpaceX, Anthropic and OpenAI

🔹 Geopolitical risk: The global economy’s dependence on Taiwan is so significant that a disruption would be extraordinarily costly. A conflict could reportedly reduce U.S. GDP by 6% and China’s by more than 15% within six months. Meaningfully diversifying production away from Taiwan could require nearly a decade of new capacity development.

🔹 ASICs versus GPUs: Google’s TPU, an application-specific integrated circuit, may cost about one-tenth as much as Nvidia’s advanced GPUs while performing especially well in AI inferencing. Amazon, Meta and Google are developing proprietary chips to reduce their dependence on costly Nvidia hardware.

🔹 The memory challenge: Rising prices for high-bandwidth memory could threaten continued growth in AI capital spending. Nvidia’s forthcoming Rubin architecture is rumored to reduce HBM consumption by as much as 50% to help manage those costs.

The takeaway: Taiwan is not merely part of the global AI ecosystem—it remains central to its technology, economics and geopolitical stability.

More key pension and investment insights from the TEXPERS 2026 Summer Educational Forum:🔹 AI and energy demand: Rapid da...
08/03/2026

More key pension and investment insights from the TEXPERS 2026 Summer Educational Forum:

🔹 AI and energy demand: Rapid data-center growth is placing new pressure on power and water systems, creating infrastructure needs comparable in scale to the historic railroad build-out.

🔹 Meeting growth responsibly: CPS Energy is preparing for rising demand through a diverse generation mix that includes solar, wind, natural gas and battery storage.

🔹 Managing the Texas grid: ERCOT reached a record peak demand of 91 gigawatts. Batteries are becoming increasingly important in filling the evening gap as solar generation declines.

🔹 A global demographic shift: Many countries are developing “upside-down” population pyramids, with fewer workers supporting more retirees—a trend with significant implications for pension systems, economic growth and currency dynamics.

These interconnected forces are reshaping the environment in which public pension leaders must plan, invest and build resilient futures.

What we’ve learned so far at TEXPERS’ 2026 Summer Educational Forum:🔹 Resilience and stewardship: Building resilient fut...
08/03/2026

What we’ve learned so far at TEXPERS’ 2026 Summer Educational Forum:

🔹 Resilience and stewardship: Building resilient futures requires public pension trustees and administrators to remain thoughtful, adaptable, and focused on the people they serve.

🔹 Evolving real estate strategies: With interest rates remaining elevated, investors are exploring a shift from equity-heavy portfolios toward real estate debt and private credit.

🔹 Sector opportunities: Multifamily housing and hotels continue to show promise, while office properties and data centers warrant caution amid concerns that some assets may be “priced to perfection.”

🔹 The importance of active management: Strong manager selection and real-world workout experience may matter more than relying on passive interest-rate trades.

The conversations continue as TEXPERS members explore the trends, risks and opportunities shaping institutional portfolios and public pension resilience.

Matt Lipps, CFA, investment strategist with Dimensional Fund Advisors, presents “The Pleasures and Perils of Market Timi...
08/03/2026

Matt Lipps, CFA, investment strategist with Dimensional Fund Advisors, presents “The Pleasures and Perils of Market Timing” at the TEXPERS 2026 Summer Educational Forum.

TEXPERS thanks Dimensional Fund Advisors for serving as the Forum’s Presenting Sponsor.

Want to follow along? Attendees can access available speaker presentations through their session listings in the TEXPERS Events app. Download the app from the Apple App Store or Google Play.

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P. O. Box 201960
Austin, TX
78720

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