FOR IMMEDIATE RELEASE - September 21, 2026
Teacher Retirement System of Texas Announces Retirement of Chief Investment Officer Jase Auby
Investment leader to retire Jan. 31, 2027 following period of record investment performance; nationwide search planned for successor
AUSTIN — The Teacher Retirement System of Texas (TRS) today announced that Chief Investment Officer Jase Auby will retire effective Jan. 31, 2027, concluding more than 17 years of service to TRS and its members, including seven years as CIO of the nation's sixth largest public pension investment fund.
Auby joined TRS in 2009 and was appointed chief investment officer in December 2019 after previously serving as deputy chief investment officer, chief risk officer and head of the Investment Management Division's Risk Group.
During his tenure as CIO, TRS achieved the strongest relative investment performance in its history. The investment team generated a 9.1 percent annualized return from December 31, 2019 through June 30, 2026, which was 1.3 percent annualized over the Trust's market benchmark. At the September 2026 TRS Board of Trustees meeting, Auby reported that the Trust ended the second quarter of 2026 with a one-year return of 16.5 percent.
"It has been an honor to serve the public education employees and retirees of Texas," Auby said. "After a great deal of thought, however, I've decided now is the right time for me to step away and give my full attention to my health and my family following my diagnosis of kidney cancer. I'm grateful that my current health outlook is stable, and I am approaching this next chapter with hope and happiness. I leave knowing the Investment Management Division is in an exceptionally strong position as they deliver on TRS' mission for our members."
Auby will continue serving as chief investment officer through Jan. 31, 2027, to support a seamless leadership transition.
"Jase has been an exceptional leader and a steadfast steward of the assets entrusted to TRS on behalf of Texas public education employees and retirees," said TRS Executive Director Brian Guthrie. "We are enormously grateful for what he has built at TRS. The investment results achieved during his tenure speak for themselves, but his lasting contribution goes well beyond performance. He leaves behind a deep, experienced investment organization with the people, processes and discipline necessary to serve our members for decades to come."
TRS Board of Trustees Chair Dan West further stated that Auby's leadership has positioned the investment program for continued success. West's appointment as board chair was announced by Governor Greg Abbott today.
"On behalf of the Board, I want to express our deep appreciation to Jase for his extraordinary service to TRS and its members," West said. "Jase has led the Investment Management Division through complex and rapidly changing markets while maintaining an unwavering focus on meeting TRS' mission. His leadership, judgment and commitment have helped make TRS one of the world's leading institutional investors."
The TRS Board of Trustees will undertake a robust nationwide search for the system's next chief investment officer. The search will focus on identifying an investment leader with the experience and capabilities to build on TRS' strong foundation and guide it through its next chapter.
"We have an exceptionally strong investment organization, and our priority will be finding the right leader for the long term while maintaining the disciplined investment approach that has served the Pension Trust Fund so well," Guthrie said.
The Teacher Retirement System of Texas (TRS) is one of the largest retirement systems in the nation. The system's core mission is to make a positive difference in the lives of Texas educators by prudently investing and managing trust assets and delivering member benefits. As of August 31, 2025, TRS pension fund had a market value of $225.3 billion.