Frank Fernandes

National Assessment Governing Board operates as an independent, nonpartisan board to set policy for the National Assessment of Educational Progress. The firm is an independent, bipartisan board whose members include governors, state legislators, local and state school officials, educators, business representatives, and members of the general public. The company was founded in 1988 and is headquartered in Washington, DC.

The Teacher Retirement System of Texas (TRS) is a state-owned pension fund manager headquartered in Austin, Texas. The firm was founded by the Texas Legislature in 1937 to provide service and disability retirement benefits to teachers and administrators of the public school systems of Texas, which include institutions of higher education. In 1949, legislation expanded membership eligibility to include all employees of public education institutions. In 1985, TRS was assigned responsibility to administer health insurance program for public school retirees. The firm invests funds under its stewardship and delivers benefits to members as authorized by the Texas Legislature.