Compensation Consultant Services

The Teacher Retirement System of Texas is requesting proposals for compensation consultant services under RFP TRS000694, with proposals due September 8, 2026 at 5:00 p.m. Central Time and a pre-proposal conference on August 17 at 2:00 p.m. Central Time (virtual via Microsoft Teams). A VetHUB Subcontracting Plan is required as the contract value is expected to exceed $100,000 over its life.

Respondents must have five years of experience providing full-service compensation consulting for financial, investment, or pension fund industries; five years working closely with boards of trustees or comparable governing entities; and five years evaluating and developing compensation strategies for executive-level roles in large public pension, governmental, or nonprofit organizations. The consultant will serve as an independent third-party advisor to the TRS Board, conducting annual compensation reviews for board direct reports and providing advisory services on compensation structures, performance plans, market data evaluation, and compensation strategies. Primary deliverables include annual compensation reviews, executive performance assessments, performance plan design reviews, written analyses and memoranda, targeted review reports, education and briefing materials, monthly status reports, and an annual compensation report presented at the September board meeting. Work is performed primarily remotely with required on-site attendance at the TRS Austin campus for the September board meeting and additional periodic on-site attendance as requested.

The initial contract term runs from September 1, 2027 through August 31, 2030, with two optional one-year renewal periods exercisable at TRS's discretion. Respondents must submit fully loaded, firm, fixed prices or hourly rates inclusive of all costs, with separate pricing for senior compensation consultants, compensation analysts/research support, and project management/engagement leads for both general service and ad hoc rates. Travel expenses are reimbursable with prior written approval and must comply with Texas Comptroller per diem rates and GSA guidelines. Price escalation is not permitted for optional renewal terms. The contractor must maintain professional liability insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 in aggregate. Questions are due August 19 at 4:00 p.m. Central Time. Evaluation criteria are past performance and client references (20%), performance detail (30%), key personnel (20%), pricing (20%), and sample work plan (10%). Top-ranked respondents will be invited for presentations in mid to late October, with a potential Board of Trustees meeting in February 2027 for final presentations.