Description
The Teacher Retirement System of Texas (TRS) is issuing a Request for Qualifications (RFQ) to select an outside fiduciary legal counsel to advise the Board of Trustees on fiduciary duties, ethics, and related legal matters. The engagement is a non‑exclusive, two‑year contract (with one optional two‑year renewal) valued up to $400,000. Qualified law firms must have Texas‑licensed attorneys, demonstrate extensive experience with public pension and fiduciary law, and comply with TRS’s Code of Ethics and contract terms. Responses are due by December 15, 2026, with questions due by December 1, 2026. Selection will be based on qualifications, experience, ethics, and ability to meet TRS processes. • Provide legal opinions on fiduciary duties, ethics, and conflict‑of‑interest issues • Review and comment on investment policies, procedures, and related documents • Deliver training and educational materials to the Board and staff • Attend Board and committee meetings (in‑person or via video) • Maintain compliance with Texas law and OAG‑approved Outside Counsel Contract • Hourly rates capped at $525 for attorneys, $225 for paralegals; alternative fee arrangements may be considered