Opportunity
Texas DIR/ESBD #TRS000722
TRS seeks outside fiduciary legal counsel for its Board of Trustees
Posted
October 15, 2026
Respond By
December 15, 2026
Identifier
TRS000722
NAICS
541110
The Teacher Retirement System of Texas (TRS) seeks a qualified law firm to advise its Board of Trustees on fiduciary responsibilities. - Government buyer: State of Texas — Teacher Retirement System of Texas (TRS), Legal & Compliance division. - Requested service: Outside fiduciary legal counsel for the TRS Board of Trustees. No law firm, service vendor, or OEM is named in the opportunity. - Provide advice on fiduciary duties, ethics, conflicts of interest, trustee liabilities, and ethical decision-making in a public trust. - Review investment policies, procedures, and proposed changes; provide written or verbal opinions, training, and educational materials; and attend Board and committee meetings unless excused. - Expected lead attorney effort is approximately 10–30 hours per quarter, with additional time possible for special projects. No volume of work or engagement is guaranteed. - Important requirements: Counsel must satisfy Texas licensure requirements, develop working knowledge of Texas laws governing TRS, comply with TRS ethics and applicable Texas Office of the Attorney General (OAG) contract requirements, and complete security and AI assessments. Required insurance applies. - Contract structure: Initial two-year term with one optional two-year renewal. Engagements are non-exclusive, require OAG approval, and are selected at the Board’s discretion. Separately authorized active litigation work may continue through its conclusion. - Estimated contract value: $400,000. - Products and quantities: No product purchases, part numbers, or fixed service quantities are specified.
Description
The Teacher Retirement System of Texas seeks qualified outside fiduciary legal counsel to provide legal services to TRS. This is a Request for Qualifications issued as a competitive procurement under Texas Government Code Chapter 825. Responses are due by December 15, 2026, at 5:00 p.m. Central Time, and the initial contract term is two years with one optional two-year renewal term. The stated estimated value is $400,000.