Strategic Planning Committee Meeting - APRIL 2022
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APRIL 2022
Strategic Planning
Committee Meeting
Teacher Retirement System of Texas
1000 Red River Street
Austin, Texas
78701-2698
TEACHER RETIREMENT SYSTEM OF TEXAS MEETING
BOARD OF TRUSTEES
AND
STRATEGIC PLANNING COMMITTEE
(Committee Chair and Members: Robert H. Walls, Jr., Chair; Michael Ball, David
Corpus, Jarvis V. Hollingsworth, Christopher Moss)
All or part of the April 28, 2022, meeting of the TRS Strategic Planning Committee and
Board of Trustees may be held by telephone or video conference call as authorized under
Sections 551.130 and 551.127 of the Texas Government Code. The Board intends to have
a quorum and the presiding officer of the meeting physically present at the following
location, which will be open to the public during the open portions of the meeting: 1000
Red River, Austin, Texas 78701 in the TRS East Building, 5th Floor, Boardroom.
The open portions of the April 28, 2022, meeting are being broadcast over the Internet.
Access to the Internet broadcast and agenda materials of the meeting is provided at
www.trs.texas.gov. A recording of the meeting will be available at www.trs.texas.gov.
AGENDA
April 28, 2022 – 8:00 a.m.
1. Call roll of Committee members.
2. Consider the approval of the proposed minutes of the December 2021 committee
meeting – Committee Chair.
3. Consider adoption of the proposed Fiscal Year 2023 – 27 Strategic Plan Goals,
Objectives and Strategies – Caasi Lamb.
4. Discuss and review Results Forum for FY 2021 - 25 TRS Strategic Plan Objectives:
Caasi Lamb, Amanda Jenami, Jase Auby and Barbie Pearson:
A. Increase Identification of Underpayments and Collection of Future
Contributions;
B. Achieve the Investment Rate of Return;
C. Improve the Customer Service Experience; and
D. Improve Timeliness and Accuracy in Employer Reported Data.
NOTE: The Board of Trustees (Board) of the Teacher Retirement System of Texas will not consider or act
upon any item before the Strategic Planning Committee (Committee) at this meeting of the Committee. This
meeting is not a regular meeting of the Board. However, because the full Committee constitutes a quorum
of the Board, the meeting of the Committee is also being posted as a meeting of the Board out of an abundance
of caution.
TAB
2
STRATEGIC PLANNING COMMITTEE MEETING BOOK
Minutes of the Strategic Planning Committee
December 8, 2021
The Strategic Planning Committee of the Board of Trustees of the Teacher Retirement System of
Texas met on December 8, 2021, in the boardroom located on the Fifth Floor in the East Building
of TRS’ offices located at 1000 Red River Street, Austin, Texas, 78701.
Committee Members Present:
Mr. Robert H. Walls, Chair
Mr. Michael Ball
Mr. David Corpus
Mr. Christopher Moss
Committee members attending via videoconference:
Jarvis V. Hollingsworth
Other TRS Board Members Present:
Mr. John Elliott
Mr. James D. Nance
Ms. Nanette Sissney
Others who participated:
Brian Guthrie, TRS Dr. Kirby Goidel, Public Policy Research
Andrew Roth, TRS Institute
Heather Traeger, TRS Dr. Rene Paulson, Elite Research
Jase Auby, TRS
Don Green, TRS
Caasi Lamb, TRS
Janet Bray, TRS
Kellie Sauls, TRS
Carolyn Perez, TRS
Katherine Farrell, TRS
Suzanne Dugan, Cohen Milstein
Strategic Planning Committee Chair, Mr. Walls, called the meeting to order at 8:34 a.m.
1. Call roll of Committee members.
Ms. Farrell called the roll. A quorum was present.
2. Consider the approval of the proposed minutes of the September 2021 Committee
meeting – Committee Chair Mr. Robert H. Walls.
On a motion by Mr. Corpus, seconded by Mr. Ball, the proposed minutes for the September 2021
Strategic Planning Committee meeting were approved as presented.
3. Receive an update on the Reporting Employer Satisfaction Survey and Member
Satisfaction Results – Caasi Lamb; Dr. Kirby Goidel, Public Policy Research
Institute and Dr. Rene Paulson, Elite Research.
Ms. Caasi Lamb introduced the report on the satisfaction survey results from members and
employers. She noted the purpose of the reporting employer satisfaction survey is to provide
feedback to TRS management on the services provided. She said this survey is relatively new,
and this was the third year to conduct the survey partnering with the Public Policy Research
Institute at Texas A&M University. She reported the member satisfaction survey is a sample of
TRS membership conducted annually by Elite Research.
Dr. Kirby Goidel reviewed the results and noted this year the survey was good news with
positive findings. He reported that the overall quality of TRS services received either excellent or
good for 84 percent of the respondents. He said the TRS coach ratings and reported response
times also improved. He pointed out the number of reporting employers attending training, only
53 percent attended training in the past year. He said presumably attendance was affected by
COVID.
Dr. Rene Paulson reviewed the results of the member satisfaction survey. She said the results
were collected from 1,681 active members and 571 retired members with the majority of both
groups completing the survey online via an email invitation. She reported the overall satisfaction
with TRS amongst the last three years has seen an increase in very satisfied and a decrease in
unsatisfied with retirees being more satisfied than active members who had more neutral
responses. She noted that email and speaking to a counselor are the top interaction types with
retirees preferring regular print mail. She said qualitative feedback on TRS interactions indicate
retirees and active members want more video and recorded webinars.
Dr. Paulson noted an uptick in MyTRS use for 2021 compared to 2019 and 2020. She said this
may be COVID-related, more people using online options. She reported the members’ qualitative
feedback on MyTRS were requests for additional features, including human counselor access,
secure chat options, online forms, and more detailed information about benefits and investment
options.
Dr. Paulson concluded by stating the health insurance benefits over the past three years have
increased in very satisfied for retired members and decreased in unsatisfied for both active and
retired members. She said the website rated as the most important resource, followed by the
customer service line.
4. Discuss and review the Fourth Quarter Results Forum for the following 2021 – 2025
Strategic Plan Objectives – Caasi Lamb, Kellie Sauls, Andrew Roth, and Carolyn
Perez:
A. Attract, retain and develop a diverse and highly competent staff;
2
Ms. Lamb introduced the item by reporting that strategic plan progress will cover 17 objectives
from the plan. Each of the owners will cover the progress they are making on strategies and an
end-of-year KPI report was provided in the appendix.
Ms. Janet Bray reviewed the accomplishments of Organizational Excellence (OE) as it relates to
the strategic plan for FY21. She reported on several strategies her office was working on. She
announced TRS was named the top workplace for the tenth time in the Austin area. She stated
for FY21 TRS had 161 posted positions, they screened over 6,600 applicants and hired 190
employees. She noted they also implemented a new job leveling system that was previously
recommended by Deloitte prior to the start of the pandemic. She said there was increased
difficulty in recruiting and retaining employees for various divisions due to the current job
market. She said the comprehensive classification review may add some flexibility to respond to
these challenges.
Ms. Kellie Sauls spoke about TRS as a multicultural workforce organization that includes
effective collaboration and teamwork. She also highlighted improving diversity representation at
all levels of the organization and where Diversity, Equity, & Inclusion has collaborated with
major departments and divisions across the organization.
Ms. Bray reported on how learning and development opportunities have expanded over the last
fiscal year. She concluded by reviewing all that OE has done with technology to make managers
have an easier time performing their managerial duties.
B. Identify appropriate solutions for TRS facilities and space requirements; and
Mr. Andrew Roth reviewed the appropriate solutions for TRS facilities and space requirements.
He noted that quarter four of FY21 was a busy quarter for facilities consumed with preparing for
the board’s decision on the purchase of Mueller. He reported since then significant time has been
spent on programming and design activities in both the Alpha and Bravo buildings. He said
moving forward focus will be on completing those programming and design activities for the
new headquarters building and initiating the tenant improvement and build out activities
including leasing the excess space in Alpha. He concluded by stating this has truly been an
enterprise-wide effort, every business area in TRS is contributing to the success of this project.
Mr. Roth also reported on the regional office. He noted legislative approval and funding for the
office was obtained. He reported the office will be opened for member visits beginning in late
spring, early summer of 2022.
C. Improve strategic communications.
Ms. Carolyn Perez reported on the strategies and objectives for improving strategic
communications. She said the first was to ensure member-facing content is easily understandable
and accessible to readers. She noted this strategy will likely always be in progress for there is
always room for improvement, constantly looking for ways to raise the bar in this area. She
referenced the survey results that indicate members look to email as the primary means of
receiving information from TRS. She reported TRS sent out 169 gov delivery emails, including
3Fresh Picks, TRS’ quick read newsletter. She said TRS has an above-average, unique open rates
for emails that is 31 percent. She said the industry average for government or public entities is
around 14 to 21 percent. She also reported that member surveys indicate social media is
becoming a more important tool and that TRS saw a 9.85 percent growth in Facebook followers
over the last year.
Ms. Perez reported on implementing the communication and outreach plan to help employers
and members plan for retirement. She stated they had produced and launched early and mid-
career educational videos as well as a downloadable retirement expense estimator worksheet
located on TRS’ website. Ms. Perez concluded by discussing projects in queue for the rest of
FY22.
Ms. Lamb concluded with an overview of the Enterprise Stoplight Report noting two changes from
the last quarter. The Long-Term Facilities category was renamed to the Headquarters Project, the
risk level was lowered from elevated (orange) to caution (yellow), and the trend is no longer
increasing due to the recent board approval of the new TRS headquarters. The Procurement &
Contracts category trend was changed from increasing to remaining stable due to the
implementation of a contract management system, adoption of the TRS Procurement and Contract
Management Guide, and ongoing training for contract managers.
At 9:29 a.m., Chair Walls announced there being no further business before the Strategic Planning
Committee, it was adjourned.
APPROVED BY THE STRATEGIC PLANNIING COMMITTEE OF THE BOARD OF
TRUSTEES OF THE TEACHER RETIREMENT SYSTEM OF TEXAS ON THE _____ DAY
OF APRIL, 2022.
______________________________ _________________
Katherine H. Farrell Date
Secretary to the Board of Trustees
Teacher Retirement Systems of Texas
4TAB
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STRATEGIC PLANNING COMMITTEE MEETING BOOKStrategic Planning Committee 2023-27 Strategic Plan Adoption Caasi Lamb Chief Strategy Officer April 28, 2022
Overview
Agenda
• Summary of Proposed Updates
• Proposed Updates to Strategic Plan
• Appendix A: 2023-27 Strategic Plan
2Summary of Proposed Updates
Plan New Amended Deleted
Goals • No change • No change • No change
• Execute on TRS facilities needs • Enhance information security program • Identify solutions for TRS facilities
Objectives
• Develop a centralized data management framework and space requirements
Benefit Delivery (Goal 2) Shared Services (Goal 4) Benefit Delivery (Goal 2)
• Customer Service Improvement Initiative • Organizational Excellence • One Team One Mission
o Changed reference to employer of choice and • Data analytics to review employer-
Health Care Benefits (Goal 3) added compensation to comprehensive workforce reported data
• Data analytics to verify health care claims strategy
compliance • Information Technology Shared Services (Goal 4)
o Updated strategies to reflect the new way we • Facilities
Shared Services (Goal 4) work, importance of strategic digital o Generational solution for housing
• Facilities transformation, and focus on transformative all of TRS and legislative
o Activities related to new headquarters, operating models that provide for greater approval and funding for regional
Strategies disposition of existing headquarters, and operational efficiencies offices
resource needs for additional regional offices • Information Security • Procurement & Contract
• Procurement & Contract Management o Updated strategies to reflect enterprise vision of Management
o Third-party risk management processes Information Security Office o Source to pay software system,
• Automation & Technology Solutions • Communications HUB purchasing selection
o Investment Data Modernization Program o Updated to reflect the Member and Employer practices, HUB outreach
• Data Management Outreach Plan activities, and DE&I outreach
o Current state of data governance and cross- • Automation & Technology Solutions and partnerships as a pipeline
functional data governance body o Broadened strategy to include entire organization for HUB contracted services
DEVELOP 3Proposed Updates to Strategic Plan
GOAL 1 Sustain a financially sound pension system.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 1: Improve communication regarding pension funding needs. No changes.
Strategy 1: Serve as a trusted resource and engage with policymakers on
pension funding.
Objective 2: Increase identification of underpayments and collection of future No changes.
contributions to TRS.
Strategy 1: Increase testing coverage of high-risk reporting employers.
Objective 3: Achieve the trust’s actuarial assumed rate of return as measured on No changes.
rolling 20-year periods.
Strategy 1: Maintain an effective investment governance structure.
Strategy 2: Enhance current competitive advantages and total returns.
Strategy 3: Manage cost structures to increase net alpha generated.
Objective 4: Improve communication regarding the impact of changing pension No changes.
plan design.
Strategy 1: Serve as a trusted resource and engage with policymakers on
pension plan design. 4Proposed Updates to Strategic Plan
GOAL 2 Continuously improve our benefit delivery.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 1: Improve the customer service experience for members and employers. Objective 1: Improve the customer service experience for members and employers.
Strategy 1: Increase capacity to serve members. Strategy 1: Increase capacity to serve members.
Strategy 2: Improve response time to reporting employers. Strategy 2: Improve response time to reporting employers.
Strategy 3: Provide additional online functionality. Strategy 3: Provide additional online functionality.
Strategy 4: Build and define operational support for Benefit Services. Strategy 4: Build and define operational support for Benefit Services.
Strategy 5: Consolidate customer service inquiries regarding health care and Strategy 5: Execute on the Customer Service Improvement Initiative.
pension benefits into one call center (One Team One Mission). Strategy 5: Consolidate customer service inquiries regarding health care and
pension benefits into one call center (One Team One Mission).
Replaced Strategy 5 with new initiative
to improve customer service.
5Proposed Updates to Strategic Plan
GOAL 2 Continuously improve our benefit delivery.
Current Objectives and Strategies 2023-27 Strategic Plan Proposed Amendments
Objective 2: Improve timeliness and accuracy in employer-reported data. Objective 2: Improve timeliness and accuracy in employer-reported data.
Strategy 1: Improve and enhance the reporting employer portal. Strategy 1: Improve and enhance the reporting employer portal.
Strategy 2: Begin using data analytics tools to review employer-reported Strategy 2: Begin using data analytics tools to review employer-reported data.
data.
Strategy is now operational.
6Proposed Updates to Strategic Plan
GOAL 3 Facilitate access to competitive, reliable health care benefits for our members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 1: Improve communication efforts regarding health care funding No proposed changes.
needs.
Strategy 1: Serve as a trusted resource and engage with policymakers on
health care funding.
Objective 2: Increase the value of health care benefits. Objective 2: Increase the value of health care benefits.
Strategy 1: Engage the best health care vendors through competitive Strategy 1: Engage the best health care vendors through competitive procurement
procurement to ensure our members have the highest value health care. to ensure our members have the highest value health care.
Strategy 2: Re-engineer TRS-ActiveCare to better meet employer needs. Strategy 2: Re-engineer TRS-ActiveCare to better meet employer needs.
Strategy 3: Use data analytics tools to provide assurance on health care
claims compliance.
Objective 3: Improve the health of our members. No proposed changes.
Strategy 1: Improve engagement of plan participants with an initial focus New strategy provides an efficient way to verify
on populations with high impact conditions, such as diabetes.
compliance with the plan and identify overpayments.
Strategy 2: Optimize disease management for high-risk populations.
7Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 1: Attract, retain, and develop a diverse and highly competent staff. Objective 1: Attract, retain, and develop a diverse and highly competent staff.
Strategy 1: Position TRS as a destination employer to meet the needs of our Strategy 1: Position TRS as an destination employer of choice to meet the needs
current and future workforce. of our current and future workforce.
Strategy 2: Promote a strong workplace culture that is inclusive and fosters Strategy 2: Promote a strong workplace culture that is inclusive and fosters
creativity and innovation. creativity and innovation.
Strategy 3: Improve diversity representation at all levels of the organization. Strategy 3: Improve diversity representation at all levels of the organization.
Strategy 4: Expand learning and development opportunities. Strategy 4: Expand learning and development opportunities.
Strategy 5: Develop and implement a comprehensive workforce strategy Strategy 5: Develop and implement a comprehensive workforce strategy that
that includes expanded remote work, onsite facility needs, appropriate staffi- includes expanded remote work, onsite facility needs, appropriate compensation
ng levels, and the technological tools necessary to support appropriate and staffing levels, and the technological tools necessary to support appropriate
workforce strategies. workforce strategies.
Amend strategy to reference employer of choice. Added
compensation to comprehensive workforce strategy.
8Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 2: Advance and enhance IT systems and services. Objective 2: Advance and enhance IT systems and services.
Strategy 1: Build, maintain and enhance a robust, highly available IT Strategy 1: Develop,Build, maintain, and enhance a robust, highly available IT
environment in support of applications and services. environment systems and infrastructure in support of applications and services TRS
Strategy 2: Expand and ease the ability to perform TRS work from anywhere, business needs.
at any time, and across most any device. Strategy 2: Expand and ease the ability to perform TRS work evolve from anywhere, at
Strategy 3: Provide advanced data analytics tools and data management any time, and across most any device an office-centric design to a hybrid remote work
practices to gain business intelligence and improve decision-making. environment that provides greater fluidity, flexibility, and security.
Strategy 4: Implement modern information systems across all lines of Strategy 3: Provide advanced data analytics tools and data management practices to
business divisions with priority on modernization of legacy systems. gain business intelligence and improve decision-making.
Strategy 5: Enhance the operating model for continuous business process Strategy 4: Implement modern information systems across all lines of business divisions
improvement that enables transparent, data-driven decisions and rapid with priority on modernization of legacy systems and strategic digital transformation.
delivery of high-quality IT capabilities. Strategy 5: Improve Enhance the digital operating technology models for to enhance
continuous business process improvement that enables transparent, data-driven
Amend strategies to reflect the new way we work, importance of decisions and rapid delivery of high-quality IT capabilities and provide operational
strategic digital transformation, and focus on transformative operating efficiencies.
models that provide for greater operational efficiencies.
9Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 3: Enhance the information security program. Objective 3: Enhance the information security program to effectively counter current and
emerging threats and risks facing TRS.
Strategy 1: Provide a secure computing environment that supports a data
privacy and integrity framework. Strategy 1: Optimize security architecture and operational capabilities to thwart
Strategy 2: Develop an information security framework based on adaptive advanced threats and mitigate vulnerabilities. Provide a secure computing
security architecture best practices to manage and mitigate cyber-security environment that supports a data privacy and integrity framework.
threats. Strategy 2: Develop a comprehensive governance, risk, and compliance program to
include security and privacy management, risk/fraud forecasting, and education.
Develop an information security framework based on adaptive security architecture
Amend objectives and strategies to reflect best practices to manage and mitigate cyber-security threats.
enterprise vision of Information Security Office.
10Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 4: Identify appropriate solutions for TRS facilities and space Objective 4: Execute on TRS facilities needs. Identify appropriate solutions for TRS facilities
requirements. and space requirements.
Strategy 1: Successful completion of generational solution for housing all Strategy 1: Complete build-out and move-in activities for the new TRS headquarters
of TRS. buildings. Successful completion of generational solution for housing all of TRS.
Strategy 2: Identify best value to the pension trust fund for the disposition of existing
Strategy 2: Obtain legislative approval and funding for regional offices.
headquarters. Obtain legislative approval and funding for regional offices.
Strategy 3: Identify resource needs and develop project plans associated with
opening additional regional offices.
Update objective to include all facilities-related activities. New
strategies reflecting next steps on new headquarters, disposition
of current headquarters, and plans for regional offices.
11Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 5: Foster a culture of fiduciary responsibility and ethical conduct. No changes.
Strategy 1: Embed/Integrate culture of ethics and compliance within the
business process.
Strategy 2: Enhance visibility of, and accessibility to, Legal & Compliance
throughout TRS.
12Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 6: Improve and maintain effective procurement and contract management Objective 6: Improve and maintain effective procurement and contract management
practices. practices.
Strategy 1: Implement significant program recommendations related to the Strategy 1: Implement significant program recommendations related to the
Purchasing & Contracts Enhancement Plan. Purchasing & Contracts Enhancement Plan.
Strategy 2: Implement source to pay software system. Strategy 2: Implement source to pay software system.
Strategy 3: Increase the number of utilized Historically Underutilized Strategy 23: Increase the number of utilized Historically Underutilized
Businesses (HUBs). Businesses (HUBs).
Strategy 4: Promote purchasing selection practices that foster meaningful and Strategy 4: Promote purchasing selection practices that foster meaningful and
substantive inclusion of historically underutilized businesses (HUBs). substantive inclusion of historically underutilized businesses (HUBs).
Strategy 5: Improve outreach activities to foster and strengthen relationships Strategy 5: Improve outreach activities to foster and strengthen relationships
among HUB vendors, prime contractors, and purchasers. among HUB vendors, prime contractors, and purchasers.
Strategy 6: Leverage Diversity, Equity, & Inclusion (DE&I) outreach and Strategy 6: Leverage Diversity, Equity, & Inclusion (DE&I) outreach and
partnerships to identify and work with HUB-eligible businesses as a pipeline for partnerships to identify and work with HUB-eligible businesses as a pipeline for
HUB contracted services. HUB contracted services.
Delete source to pay strategy as implementation is complete. Move Strategies 4- Strategy 3: Mature third-party risk management processes.
6 to Schedule C: HUB Plan. Add new strategy for third-party risk management. 13Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 7: Improve strategic communications. Objective 7: Improve strategic communications.
Strategy 1: Ensure that member-facing content is easily understandable and Strategy 1: Ensure that member-facing content is easily understandable and
accessible to readers. accessible to readers.
Strategy 2: Develop a communication and outreach plan to better help Strategy 2: Develop a communication and outreach plan Implement and monitor
members and employers plan for retirement. the Member and Employer Outreach Plan to better help members and employers
plan for retirement.
Update strategy to reference plan
adopted by the Board.
14Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 8: Evaluate automation and technology solutions to enhance existing Objective 8: Evaluate automation and technology solutions to enhance existing
processes. processes.
Strategy 1: Investigate best practices and feasibility of incorporating artificial Strategy 1: Investigate best practices and feasibility of incorporating artificial
intelligence into Legal & Compliance processes. intelligence into Legal & Compliance organizational processes.
Strategy 2: Identify opportunities for improved productivity, process Strategy 2: Identify opportunities for improved productivity, process efficiencies,
efficiencies, and performance monitoring. and performance monitoring.
Strategy 3: Implement Investment Data Modernization Program to improve trust
asset monitoring and fiduciary oversight.
Broaden Strategy 1 to include entire organization. New
Strategy 3 for multi-year data modernization program that will
increase transparency and reliability of investment data.
15Proposed Updates to Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Current Objectives and Strategies 2023-27 Strategic Plan Amendments
Objective 9: Develop a centralized data management framework for digital and physical
data.
Strategy 1: Establish a cross-functional data governance body to develop methods,
responsibilities, and processes to standardize, integrate, protect, and store
organizational data.
Strategy 2: Analyze the current state of data governance and operationalize the
review and assessment of proposed projects in accordance with the data
management framework.
Add objective and strategies related to
development of a data management
framework and associated governance.
16Appendix A: 2023-27 Strategic Plan
17TRS 2023-2027 Strategic Plan
GOAL 1 Sustain a financially sound pension system.
Objective 1: Improve communication regarding pension funding needs.
Strategy 1: Serve as a trusted resource and engage with policymakers on pension funding.
Objective 2: Increase identification of underpayments and collection of future contributions to TRS.
Strategy 1: Increase testing coverage of high-risk reporting employers.
Objective 3: Achieve the trust’s actuarial assumed rate of return as measured on rolling 20-year periods.
Strategy 1: Maintain an effective investment governance structure.
Strategy 2: Enhance current competitive advantages and total returns.
Strategy 3: Manage cost structures to increase net alpha generated.
Objective 4: Improve communication regarding the impact of changing pension plan design.
Strategy 1: Serve as a trusted resource and engage with policymakers on pension plan design.
18TRS 2023-2027 Strategic Plan
GOAL 2 Continuously improve our benefit delivery.
Objective 1: Improve the customer service experience for members and employers.
Strategy 1: Increase capacity to serve members.
Strategy 2: Improve response time to reporting employers.
Strategy 3: Provide additional online functionality.
Strategy 4: Build and define operational support for Benefit Services.
Strategy 5: Execute on the Customer Service Improvement Initiative.
Objective 2: Improve timeliness and accuracy in employer-reported data.
Strategy 1: Improve and enhance the reporting employer portal.
19TRS 2023-2027 Strategic Plan
GOAL 3 Facilitate access to competitive, reliable health care benefits for our members.
Objective 1: Improve communication efforts regarding health care funding needs.
Strategy 1: Serve as a trusted resource and engage with policymakers on health care funding.
Objective 2: Increase the value of health care benefits.
Strategy 1: Engage the best health care vendors through competitive procurement to ensure our members have the highest value health care.
Strategy 2: Re-engineer TRS-ActiveCare to better meet employer needs.
Strategy 3: Use data analytics tools to provide assurance on health care claims compliance.
Objective 3: Improve the health of our members.
Strategy 1: Improve engagement of plan participants with an initial focus on population with high impact conditions, such as diabetes.
Strategy 2: Optimize disease management for high-risk populations.
20TRS 2023-2027 Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Objective 1: Attract, retain, and develop a diverse and highly competent staff.
Strategy 1: Position TRS as an employer of choice to meet the needs of our current and future workforce.
Strategy 2: Promote a strong workplace culture that is inclusive and fosters creativity and innovation.
Strategy 3: Improve diversity representation at all levels of the organization.
Strategy 4: Expand learning and development opportunities.
Strategy 5: Develop and implement a comprehensive workforce strategy that includes expanded remote work, onsite facility needs, appropriate compensation and
staffing levels, and the technological tools necessary to support appropriate workforce strategies.
Objective 2: Advance and enhance IT systems and services.
Strategy 1: Develop, maintain, and enhance IT systems and infrastructure in support of TRS business needs.
Strategy 2: Expand and evolve from an office-centric design to a hybrid remote work environment that provides greater fluidity, flexibility, and security.
Strategy 3: Provide advanced data analytics tools and data management practices to gain business intelligence and improve decision-making.
Strategy 4: Implement modern information systems across all lines of business with priority on modernization of legacy systems and strategic digital transformation.
Strategy 5: Improve digital operating technology models to enhance continuous business process improvement and provide operational efficiencies.
21TRS 2023-2027 Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Objective 3: Enhance the information security program to effectively counter current and emerging threats and risks facing TRS.
Strategy 1: Optimize security architecture and operational capabilities to thwart advanced threats and mitigate vulnerabilities.
Strategy 2: Develop a comprehensive governance, risk, and compliance program to include security and privacy management, risk/fraud
forecasting, and education.
Objective 4: Execute on TRS facilities needs.
Strategy 1: Complete build-out and move-in activities for the new TRS headquarters buildings.
Strategy 2: Identify best value to the pension trust fund for the disposition of existing headquarters.
Strategy 3: Identify resource needs and develop project plans associated with opening additional regional offices.
Objective 5: Foster a culture of fiduciary responsibility and ethical conduct.
Strategy 1: Embed/Integrate culture of ethics and compliance within the business process.
Strategy 2: Enhance visibility of, and accessibility to, Legal & Compliance throughout TRS.
22TRS 2023-2027 Draft Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Objective 6: Improve and maintain effective procurement and contract management practices.
Strategy 1: Implement significant program recommendations related to the Purchasing & Contracts Enhancement Plan.
Strategy 2: Increase the number of utilized Historically Underutilized Businesses (HUBs).
Strategy 3: Mature third-party risk management processes.
Objective 7: Improve strategic communications.
Strategy 1: Ensure that member-facing content is easily understandable and accessible to readers.
Strategy 2: Implement and monitor the Member and Employer Outreach Plan to better help members and employers plan for retirement.
Objective 8: Evaluate automation and technology solutions to enhance existing processes.
Strategy 1: Investigate best practices and feasibility of incorporating artificial intelligence into organizational processes.
Strategy 2: Identify opportunities for improved productivity, process efficiencies, and performance monitoring.
Strategy 3: Implement Investment Data Modernization Program to improve trust asset monitoring and fiduciary oversight.
23TRS 2023-2027 Strategic Plan
GOAL 4 Ensure that people, processes, and technology align to achieve excellence in the delivery of services to members.
Objective 9: Develop a centralized data management framework for digital and physical data.
Strategy 1: Establish a cross-functional data governance body to develop methods, responsibilities, and processes to standardize, integrate,
protect, and store organizational data.
Strategy 2: Analyze the current state of data governance and operationalize the review and assessment of proposed projects in accordance with
the data management framework.
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STRATEGIC PLANNING COMMITTEE MEETING BOOKStrategic Planning Committee 1st Quarter Results Forum Report Caasi Lamb | Chief Strategy Officer Amanda Jenami | Chief Audit Executive Jase Auby | Chief Investment Officer Barbie Pearson | Chief Benefits Officer April 28, 2022
Overview
Agenda
• Results Forum Schedule
• Q1 Strategic Plan Results Forum
• Increase identification of underpayments and collection of future contributions
• Achieve the Investment Rate of Return
• Improve the Customer Service Experience
• Improve Timeliness and Accuracy in Employer Reported Data
• Enterprise Stoplight Report
• Appendix A: Year Ahead
2Results Forum Schedule
• Increase identification of underpayments and
• Attract, retain and develop a highly collection of future contributions
competent staff • Achieve the investment rate of return
• Identify solutions for TRS facilities and • Improve the customer service experience
space requirements • Improve timeliness and accuracy in employer-
reported data
• Improve strategic communications
December April
Q4 Update Q1 Update
End of Year KPI Data
• Improve pension funding communication • Advance and enhance IT systems and
• Improve communication regarding the impact September July •
services
Enhance the information security program
of changing plan design
Q3 Update Q2 Update • Foster a culture of fiduciary responsibility and
• Improve health care funding communication Mid-Year KPI Data
• Increase the value of health care benefits ethical conduct
• Improve the health of our members • Improve and maintain effective procurement
and contract management
• Evaluate automation and technology solutions
3FY 2022 1st Quarter Strategic Plan Results Forum
GOAL 1: Sustain a financially sound pension system.
OBJECTIVE 2: Increase identification of underpayments and collection of future contributions to TRS.
STRATEGY ONE
Increase testing coverage of high-risk
reporting employers.
IN PROGRESS
• Continuously adding new data analytic tools to
ACCOMPLISHMENTS
the TRUST system.
• Creating automated tools to validate key TRUST
data against other internal systems.
• Continuously streamlining audits to focus on
high-risk areas.
4Continuous Auditing by RPA – Identification of Underpayment & Collection of Future Contributions
Daisy Dayton Dayna Umar Oliva Zero Terminator
Ellen Elle Missy Ollie Payne Maverick
19 Bots!
Diego Marvelous Sam Teresa Einstein Hamilton
5Examples: Umar and Zero Routine Processes
Umar Zero
Access all Reporting Employers (REs) Access all REs’ reported payroll data for # of
submitted payroll, employment history and data Query days worked.
Extract data by report type, membership Extract data for members who have worked
eligibility, employment, position, and RE pay Prepare in TRS eligible positions; showing zero days
social security information worked
Evaluate membership start date, position start/end Calculate total of reported paid days, eligible
date, eligible compensation to identify potential Analyze compensation amounts to identify potential missing
underpayments of active members service credits and understated contributions
Document testing procedures and results Log Document testing procedures and results
Notify Benefit Reporting management of identified Notify Benefit Reporting management of identified
potential underpayments from REs of identified Email potential underpayments from REs of identified
potential underpayments from REs 6
potential underpayments from REsFY 2022 1st Quarter Strategic Plan Results Forum
GOAL 1: Sustain a financially sound pension system.
OBJECTIVE 3: Achieve the trust’s actuarial assumed rate of return as measured on rolling 20-year periods.
STRATEGY ONE STRATEGY TWO STRATEGY THREE
Maintain an effective investment governance structure. Enhance current competitive advantages and total returns. Manage cost structures to increase net alpha generated.
IN PROGRESS IN PROGRESS IN PROGRESS
• Two comprehensive reviews in past 3 years and no • Ended calendar year 2021 with a total Trust absolute return of • Met calendar year 2021 metric target of total percent of
ACCOMPLISHMENTS
changes were recommended. 18.5% and 197 bp of excess return against the Trust benchmark. portfolio capital plan in principal investments approved.
• Implementing investment team level committees to improve • To date, 32 of 32 Phase 1, 29 of 31 Phase 2, and 6 of 25 Phase 3 • Initiated working group to research investment opportunities
on decision making around potential new investments. hired employees; completed recruiting for the IMD intern class of in digital assets.
• Increased membership on the IMD’s Management 2022. • Building the Fleet reported management fee savings in
Committee to broaden representation. • Initiated a project to develop a long-term Trust data management calendar year 2021.
platform.
7FY 2022 1st Quarter Strategic Plan Results Forum
GOAL 2: Continuously improve our benefit delivery.
OBJECTIVE 1: Improve the customer service experience for members and employers.
STRATEGY ONE STRATEGY TWO STRATEGY THREE
Increase capacity to serve members. Improve response time to reporting employers. Provide additional online functionality.
BEHIND IN PROGRESS IN PROGRESS
• House all training and reference materials and • Since September 2021, hosted 9 virtual training • New MyTRS has moved into user acceptance
ACCOMPLISHMENTS
procedures in one central location. sessions with 595 attendees. testing.
• Revamped the on-the-job (OJT) outline. • Two coaches have been released from training to work • Continue to develop roadmap for future MyTRS
• Benefit Counseling is now able to effectively plan the independently. enhancements
field office visit schedule according to location, duration, • Piloted a new training program for new coach hires.
and distance requirements.FY 2022 1st Quarter Strategic Plan Results Forum
GOAL 2: Continuously improve our benefit delivery.
OBJECTIVE 1: Improve the customer service experience for members and employers.
STRATEGY FOUR STRATEGY FIVE
Build and define operational support for Consolidate customer service inquiries regarding health care and
Benefit Services. pension benefits into one call center (One Team One Mission).
IN PROGRESS NOT STARTED
• Created foundational training for Benefit Processing. • Hiring outside of Austin in El Paso (and eventually statewide) has increased the
ACCOMPLISHMENTS
• Completed phase one of the Claims OJT project. applicant pool for the Contact Center.
• Started creating a series of eLearning videos for Benefit Reporting.
9FY 2022 1st Quarter Strategic Plan Results Forum
GOAL 2: Continuously improve our benefit delivery.
OBJECTIVE 2: Improve timeliness and accuracy in employer reported data.
STRATEGY ONE STRATEGY TWO
Improve and enhance the reporting Begin using data analytics tools to review
employer portal. employer-reported data.
IN PROGRESS BEHIND
• Since Phase 1 Go-Live, a total of 2,043 reporting related • Piloted a new training program for our new coach hires.
ACCOMPLISHMENTS
defects and enhancement items have been completed and
closed.
• Updated validations related to membership eligibility to
consider federal holidays.
10Stoplight Report – April 2022
11Appendix A: Year Ahead
12Year Ahead
February 2023 Board Meeting
Fiscal Year 2022 Fiscal Year 2023 Strategic Fit/Alignment
Review Updates to FY 23-27 Strategic Plan
July 2022 September 2022 December 2022 April 2023 July 2023
Strategic Planning Committee Strategic Planning Committee Strategic Planning Committee Strategic Planning Committee Strategic Planning Committee
Results Forum Report Out Results Forum Report Out Results Forum Report Out Results Forum Report Out Results Forum Report Out
(Q2) (Q3) (Q4) (Q1) (Q2)
• Advance and enhance IT • Improve pension funding • Attract, retain and develop • Achieve the investment • Advance and enhance IT
systems and services communication a diverse and highly rate of return systems and services
• Enhance the information • Improve communication competent staff • Improve the customer • Enhance the information
security program regarding the impact of • Identify solutions for service experience security program
• Improve and maintain changing plan design facilities and space needs • Increase identification of • Improve and maintain
effective procurement and • Improve health care • Improve strategic underpayments and effective procurement and
contract management funding needs communications collection of future contract management
• Fiduciary responsibility communication • Evaluate automation and contributions • Fiduciary responsibility
and ethical conduct • Increase the value of technology solutions to • Improve timeliness and and ethical conduct
health care benefits enhance processes accuracy in employer- • Develop centralized data
• Improve the health of our reported data management framework
members Strategic Plan FY 2022
AOF Update Wrap-Up Adopt Updates to FY 23-27 AOF Update
Adopt FY 2023 Areas of
Mid-Year KPI Data End of Year KPI Data13 Strategic Plan Mid-Year KPI Data
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