Published: 11-17-08
AUSTIN – The Teacher Retirement System of Texas (TRS) Board of Trustees has selected the law firm of Morgan Lewis & Bockius LLP as the agency’s fiduciary counsel.
During their November 14 meeting in Austin trustees authorized TRS Executive Director Ronnie Jung to enter into contract negotiations with Morgan Lewis for fiscal year 2009 with an option to renew for a 12-month period. As fiduciary counsel Morgan Lewis will counsel TRS and the TRS Board of Trustees about compliance with fiduciary responsibilities review investment policies provide educational training and review ethical and conflict of interest issues.
“Morgan Lewis is a firm with a rich and distinguished history. They bring TRS a broad range of experience that will be of great value to our system and members” said TRS Board Chairman James Lee. “The legal corporate governance and investment landscapes are rapidly changing and our new fiduciary counsel will help us adapt to meet the challenges that accompany those changes.”
Founded in Philadelphia in 1873 today Morgan Lewis is a global law firm with more than 1400 lawyers in 22 offices located throughout the world. To best serve TRS the firm has a large Texas presence with an office in Dallas. Morgan Lewis has a large national public pension fund practice and extensive expertise in board governance and fiduciary matters.
The Teacher Retirement System of Texas delivers retirement and related benefits that have been authorized by the Texas Legislature and manages a nearly $96 billion trust fund established to finance member benefits. More than 1.2 million public education and higher education employees and retirees participate in the system.
