Dear Editor,

The Teacher Retirement System of Texas has embarked on a risky investment venture in hedge funds, real estate, private venture capitol, and even toll roads. $29 billion of the TRS funds will be used.

Thomas Harris, chief investment officer, came on board with a salary of $402,000 and, eight months later, a salary of $904,000. He wants to hire additional officers with salaries of $200-300,000. Interestingly, the 6th Court of Appeals voted to disallow compensation of pension fund employees to become public information.

Active teachers contribute more to the fund than the state, and, retired teachers haven’t received an increase in annuities since 2001. It seems fair that since teachers are held accountable for their jobs based on a dubious standardized test, then financial officers be held accountable by a quarterly report defining their investment choices and the results of the same.

Concerned and interested persons should let the TRS board of trustees, teacher organizations and legislators know their feelings.

Larry Hobson

Canyon Lake, TX