What the buyer needs
AI summaryThe Teacher Retirement System of Texas (TRS) is seeking qualifications for Fiduciary Outside Legal Counsel. Services will be provided to TRS, and the contract term is two years with one optional two-year renewal. Attorneys must be licensed in Texas, or firms must detail exceptions to this requirement. Counsel must demonstrate practical knowledge and experience with public pension systems and institutional investor legal concerns.
Scope of work
- Respond with timely verbal or written legal opinions on fiduciary duties
- Review and comment on TRS policies and procedures
- Provide requested opinions on ethical and conflict of interest questions
- Provide expert advice on matters related to ethics and ethical decision-making
- Provide advice on potential liabilities of trustees and other TRS fiduciaries
How proposals are evaluated
| Criterion | Weight / scoring |
|---|---|
| Qualifications and Demonstrated Subject Matter Expertise | Not specified |
| Representative Experience | Not specified |
| Commitment to TRS Processes | Not specified |
| Commitment to Service Delivery | Not specified |
| Ethics | Not specified |
Minimum qualifications
- Attorneys assigned must be licensed in Texas or detail why an exception applies
- Lead Fiduciary Counsel must provide documentation of good standing from the State Bar of Texas or appropriate licensing entity
- Demonstrate substantial practical knowledge, skill, and experience in fiduciary law, trust law, Texas constitutional and statutory principles, and relevant case law
- Familiarity and experience with public pension system and institutional investor legal concerns
- Experience with ERISA, federal tax law applicable to public plans, and federal securities laws
Documents to include with your response
- Part 1 Qualifications Questionnaire
- Part 2 Qualification Narrative
- Part 3 Required Forms: Respondent's Signature and Information
- Respondent's Certifications
- Preferences
- Vendor Setup Form
- Attachment C: TRS Code of Ethics for Contractors
- Attachment D: Information Security – Third-Party Assessment Form
- Attachment F: Artificial Intelligence (AI) Assessment Form
How to submit
- Method
- Instructions
- Submit responses for Parts 1 through 3 to [email protected] in .pdf format, except redlines to the Business Associate Agreement in Word format using Track Changes.