# 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, 541199

The Teacher Retirement System of Texas is seeking a qualified law firm to serve as outside fiduciary counsel to its Board of Trustees.
- **Government buyer:** Teacher Retirement System of Texas (TRS), a State of Texas agency; Legal & Compliance division, Austin, Travis County.
- **Requested service:** Specialized fiduciary legal counsel for the TRS Board of Trustees. No product part numbers or fixed service quantities are specified.
  - Advise 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 legal opinions and educational training materials; and help communicate fiduciary concerns.
  - Attend Board and committee meetings unless excused. Expected lead-attorney effort is approximately 10–30 hours per quarter, with additional effort possible for special projects.
  - No work volume or engagement is guaranteed; counsel is non-exclusive and selected at the Board’s discretion.
- **OEMs and named vendors:** None identified. This is a professional legal-services requirement, not an OEM product procurement.
- **Notable requirements:** Texas licensure; compliance with TRS ethics requirements and applicable Texas Office of the Attorney General (OAG) contract requirements; conflict and relationship disclosures; required insurance; and completion of security and AI assessments. Engagements require OAG approval.
- **Term:** Two-year initial term, with one optional two-year renewal. Separately authorized active-litigation engagements may continue through final conclusion.
- **Estimated value:** $400,000.

### Description

The Teacher Retirement System of Texas seeks qualifications from outside fiduciary legal counsel qualified to provide legal services to TRS. The solicitation requires qualification questionnaire and narrative responses, required forms, and an outside counsel contract. Responses must be submitted by email by December 15, 2026, at 5:00 p.m. Central Time. The estimated value is $400,000, and the initial contract term is two years with one optional two-year renewal.

[View original listing](https://www.txsmartbuy.gov/esbd/TRS000722)