Texas State Library and Archives Commission

Texas Prepaid Higher Education Tuition Board:

An Inventory of Prepaid Higher Education Tuition Board Records at the Texas State Archives, 1995-2015



Overview

Creator: Texas Prepaid Higher Education Tuition Board.
Title: Texas Prepaid Higher Education Tuition Board records
Dates: 1995-2015
Abstract: The Texas Prepaid Higher Education Tuition Board administers the Texas Prepaid Higher Education Tuition Program to increase access to higher education for Texas families. Records consist of meeting transcripts, minutes, agenda, agenda attachments, correspondence, proposals, memorandums, reports, performance analyses, contracts, comparison charts, and presentations dating 1995-2015. These records illustrate the decision making process through board actions and its planning documents. Subjects include program structure and requirements, marketing strategies, tax implications for contributors and beneficiaries, changes in Internal Revenue Service guidelines, effect of federal and state legislation on the program, selection of outside investment managers, trademark and patent ownership of prepaid tuition programs, comparison of different state-backed programs, trends effecting higher education tuition, market influences on investment fund returns, and the distribution of scholarship funds.
Quantity: 20.75 cubic ft.
Language: These materials are written predominately in English with scattered Spanish throughout.
Repository: Texas State Archives
Sponsor: This EAD finding aid was created in cooperation with Texas Archival Resources Online.

Agency History

Concerns about increases in higher education tuition and costs led to the creation of the Texas Prepaid Higher Education Tuition Board (TPHETB) in 1995 (House Bill 1214, 74th Texas Legislature, Regular Session). The agency's primary function is to administer the Texas Prepaid Higher Education Tuition Program to increase access to higher education. This program provides a medium for the costs of higher education to be paid in advance, at the rate established when the plan was purchased. Initially the Texas Prepaid Higher Education Tuition Program consisted of the Texas Tomorrow Fund, which allowed contract purchasers to prepay undergraduate tuition that could be used by beneficiaries at private and public higher education institutions, and the Texas Prepaid Higher Education Tuition Scholarship, a scholarship fund formed from private and public sources. The Texas Tomorrow Fund is also guaranteed by the state. By statue, Texas Tomorrow Fund accounts terminate on the 10th anniversary of when the beneficiary is to have been projected to graduate from high school (Senate Joint Resolution 27, 75th Legislature, Regular Session). Accounts could be used at qualified in-state and out-of-state institutions and neither the contract purchaser nor the fund beneficiary had to be a Texas resident. The Texas State Treasurer was the custodian of the Texas Tomorrow Fund until the office was abolished by constitutional amendment in 1996 (Senate Joint Resolution 1, 74th Legislature, Regular Session). The Texas Comptroller of Public Accounts became the custodian of the Texas Tomorrow Fund in 1996.

In 1999, the Texas Tomorrow Fund expanded so that contracts could be purchased to cover the costs of graduate and professional programs (House Bill 2555, 77th Legislature, Regular Session). In 2001, the TPHETB was given the authority to expand the Texas Prepaid Higher Education Tuition Program to include investment plans to complement the Texas Tomorrow Fund (Senate Bill 555, 78th Legislature, Regular Session). The LoneStar 529 Plan, which has to be purchased through a financial advisor, offers a number of different investment portfolios. Growth and withdrawals are tax-free if used for qualified higher education expenses. The Texas College Savings Plan does not have to be purchased through a financial advisor and also offers a number of different investment portfolios. In 2003, higher education tuition was deregulated (House Bill 3015, 78th Legislature, Regular Session). This meant that the amount contract purchasers prepaid was less than the actual cost of higher education tuition and fees. In response to this tuition deregulation, new enrollment in the Texas Tomorrow Fund closed in June 2003. Contributions could still be made to contracts purchased before this date. The last estimated date the Texas Tomorrow Fund could be in existence is 2031.

Concern over the rising costs of higher education tuition remained. In 2007, the Texas Guaranteed Tuition Plan, initially nicknamed the Texas Tomorrow Fund II, was created (HB 3900, 80th Legislature, Regular Session) so higher education tuition and fees could be prepaid in the form of units. This legislation also authorized the TPHETB to develop and implement the Texas Save and Match Program, a program where prepaid college tuition units purchased by an account owner may be matched with other funds.

In 2014, the federal Achieving a Better Life Experience (ABLE) program was created to assist individuals and families with saving funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality of life (H.R. 647, 113th Congress, 2013-2014). According to this legislation, each state is required to administer a fund to pay for the qualified disability expenses related to the blindness or disability of a program beneficiary. In 2015, the TPHETB was selected as the Texas ABLE program administor (SB 1664, 84th Legislature, Regular Session). As of 2016, the comptroller was charged with selecting six members for this advisory committee, to meet at least quarterly. The advisory committee is set to expire on December 1, 2019.

The TPHETB consists of seven members, which includes the comptroller as the ex officio chair. Two members are appointed by the governor and the remaining four are selected by the lieutenant governor. All board members must have experience in either higher education, business, or finance. Appointed members serve staggered six-year terms. The board-at-large typically meets four times a year. Committees meet on an as-needed basis.

(Sources include: Texas Prepaid Higher Education Tuition Board annual reports; various state and federal legislation; the Texas Guaranteed Tuition Plan website (http://www.tgtp.org), accessed April 26, 2016; and the records themselves.)


Scope and Contents of the Records

The Texas Prepaid Higher Education Tuition Board (TPHETB) administers the Texas Prepaid Higher Education Tuition Program to increase access to higher education for Texas families. Records consist of meeting transcripts, minutes, agenda, agenda attachments, correspondence, proposals, memorandums, reports, performance analyses, contracts, comparison charts, and presentations dating 1995-2015. These records illustrate the decision making process through board actions and planning documents. Subjects include program structure and requirements, marketing strategies, tax implications for contributors and beneficiaries, changes in Internal Revenue Service guidelines, effect of federal and state legislation on the program, selection of outside investment managers, trademark and patent ownership of prepaid tuition programs, comparison of different state-backed programs, trends effecting higher education tuition, market influences on investment fund returns, and the distribution of scholarship funds.

As of 2016, the program consists of the Texas Guaranteed Tuition Plan (and its predecessor the Texas Tomorrow Fund), the Texas College Savings Plan, the LoneStar 529 Plan, the Texas Tuition Promise Fund, the Texas Prepaid Tuition Scholarship Foundation, and the Texas Save and Match Program in cooperation with the Texas Match the Promise Foundation. The TPHETB also administers the Texas Achieving a Better Life Experience (TexasABLE) program.

The bulk of records are within the meeting files series, 1995-2015. Records consist of minutes, transcripts, agenda, and agenda attachments. Minutes are created to document in a thorough yet summary fashion the official actions of the board in its meetings. Transcripts are verbatim records of the proceedings of a meeting. Agenda inform the public as to what will be discussed and/or decided at each board meeting. Agenda attachments and other supplementary materials (such as proposals, correspondence, reports, performance analyses, comparison charts, and presentations) provide background information for topics discussed at board meetings. Typically transcripts and agenda attachments are present for each meeting. Often minutes for a specific meeting are either included with the transcript for a given date or in the agenda attachments for the following meeting, when the minutes were approved by the board.

The plans and planning records series, 1995-1998, provides an overview of the administration of the Texas Tomorrow Fund, especially in regards to the vendor and investment plan selection process. Records include reports, correspondence, proposals, memorandums, contracts, and performance analyses.

To prepare this inventory, the described materials were cursorily reviewed to delineate series, to confirm the accuracy of contents lists, to provide an estimate of dates covered, and to determine record types.


Organization of the Records

These records are organized into two series:
Meeting files, 1995-2015, 19.95 cubic ft.
Plans and planning records, 1995-1998, 0.8 cubic ft.

Restrictions

Restrictions on Access

Materials do not circulate, but may be used in the State Archives search room. Materials will be retrieved from and returned to storage areas by staff members.

Because of the possibility that portions of these records fall under Public Information Act exceptions including, but not limited to, home addresses and phone numbers of government employees or officials (Texas Government Code, Section 552.117); driver's license numbers (Texas Government Code, Section 552.130); and date of birth of state employees (Texas Government Code, Section 552.102(a)), an archivist must review these records before they can be accessed for research. The records may be requested for research under the provisions of the Public Information Act (Texas Government Code, Chapter 552).

The researcher may request an interview with an archivist or submit a request by mail (Texas State Library and Archives Commission, P.O. Box 12927, Austin, TX 78711), fax (512-463-5436), email (director.librarian@tsl.texas.gov), or see our web page (https://www.tsl.texas.gov/agency/customer/pia.html). Include enough description and detail about the information requested to enable the archivist to accurately identify and locate the information. If our review reveals information that may be excepted by the Public Information Act, we are obligated to seek an open records decision from the Attorney General on whether the records can be released. The Public Information Act allows the Archives ten working days after receiving a request to make this determination. The Attorney General has 45 working days to render a decision. Alternately, the Archives can inform you of the nature of the potentially excepted information and if you agree, that information can be redacted or removed and you can access the remainder of the records.

Restrictions on Use

Most records created by Texas state agencies are not copyrighted. State records also include materials received by, not created by, state agencies. Copyright remains with the creator. The researcher is responsible for complying with U.S. Copyright Law (Title 17 U.S.C.).

Technical Requirements

None.


Index Terms

The terms listed here were used to catalog the records. The terms can be used to find similar or related records.
Corporate Names:
Texas. Comptroller's Office.
Subjects (Organizations):
Texas Prepaid Higher Education Tuition Program.
Subjects:
Education, Higher--Texas--Finance.
Education, Higher--Texas--Tuition.
College costs--Texas.
Junior colleges--Texas--Finance.
Universities and colleges--Texas--Finance.
Document Types:
Minutes (administrative records)--Prepaid tuition plans-- Texas--1995-2015.
Agenda (administrative records)--Prepaid tuition plans--Texas--1995-2015.
Correspondence--Prepaid tuition plans--Texas--1995-2015.
Proposals--Prepaid tuition plans--Texas--1995-2015.
Memorandums--Prepaid tuition plans--Texas--1995-2015.
Reports--Prepaid tuition plans--Texas--1995-2015.
Contracts--Prepaid tuition plans--Texas--1995-2015.
Charts (graphical documents)--Prepaid tuition plans--Texas--1995-2015.
Functions:
Administrating prepaid tuition program.
Administrating state tuition matching program.

Related Material

The following materials are offered as possible sources of further information on the agencies and subjects covered by the records. The listing is not exhaustive.

Texas State Archives
Texas Higher Education Coordinating Board agenda and minutes, 1953-1954, 1957-2012, 12 cubic ft.
Texas Guaranteed Student Loan Corporation records, 1980-1999, 0.5 cubic ft.
Texas. Legislature. Senate. Committee on Higher Education records, 2008-2012, 5 cubic ft. [RESTRICTED] [There is no finding aid for these unprocessed records. Call number is 2013/082.]

Administrative Information

Preferred Citation

(Identify the item and cite the series), Texas Prepaid Higher Education Tuition Board records. Archives and Information Services Division, Texas State Library and Archives Commission.

Accession Information

Accession numbers: 2001/150, 2016/096

These records were transferred to the Archives and Information Services Division of the Texas State Library and Archives Commission by the Texas Comptroller's Office on August 15, 2001 and February 25, 2016.

Processing Information

Initial processing by Tony Black, June 2008

Additional processing by Anna M. Reznik, April 2016


Detailed Description of the Records

Texas Prepaid Higher Education Tuition Board meeting files, 1995-2015,
19.95 cubic ft.

The Texas Prepaid Higher Education Tuition Board (TPHETB) meeting files document the discussions and actions of the board, its Investment Committee, and the Texas Prepaid Tuition Scholarship Foundation during called meetings. Records consist of meeting transcripts, minutes, agenda, agenda attachments, correspondence, proposals, memorandums, reports, performance analyses, contracts, comparison charts, and presentations dating 1995-2015. Subjects include program structure and requirements, marketing strategies to improve contract purchase statistics, tax implications for contributors and beneficiaries, changes in Internal Revenue Service guidelines, effect of legislation on the program, selection of outside investment managers, trademark and patent ownership of prepaid tuition programs, comparison of different state-backed programs, trends effecting higher education tuition, market influences on investment fund returns, and the distribution of scholarship funds. The Texas Prepaid Tuition Scholarship Foundation meetings focus on developing partnerships with private entities to fund scholarships and using scholarships to market other prepaid higher education tuition plans. The Investment Committee meetings focus on the selection and performance of investment portfolios used to support the Texas Tomorrow Fund. Other selection committees are also reflected in the records.
Minutes are created to document in a thorough yet summary fashion the official actions of the board in its meetings. Transcripts are verbatim records of the proceedings of a meeting. Agenda inform the public as to what will be discussed and/or decided at each board meeting. Agenda attachments and other supplementary materials (such as proposals, correspondence, reports, performance analyses, comparison charts, and presentations) provide background information for topics discussed at board meetings. Typically transcripts and agenda attachments are present for each meeting. Often minutes for a specific meeting are either included with the transcript for a given date or in the agenda attachments for the following meeting, when the minutes were approved by the board. Minutes are not present for every meeting.
Arrangement
Records are arranged chronologically. Typically the agenda attachments are filed before minute transcripts and other background information for each meeting.
Preferred Citation
(Identify the item), Meeting files, Texas Prepaid Higher Education Tuition Board records. Archives and Information Services Division, Texas State Library and Archives Commission.
Processing Information
Initial processing by Tony Black, June 2008
Additional processing by Anna M. Reznik, April 2016
Accession Information
Accession numbers: 2001/150, 2016/096
These records were transferred to the Archives and Information Services Division of the Texas State Library and Archives Commission by the Texas Comptroller's Office on August 15, 2001 and February 25, 2016.
Restrictions on Access
Because of the possibility that portions of these records fall under Public Information Act exceptions including, but not limited to, home addresses and phone numbers of government employees or officials (Texas Government Code, Section 552.117); driver's license numbers (Texas Government Code, Section 552.130); and date of birth of state employees (Texas Government Code, Section 552.102(a)), an archivist must review these records before they can be accessed for research. The records may be requested for research under the provisions of the Public Information Act (Texas Government Code, Chapter 552). Refer to the overall restriction statement for instructions on requesting access through the Texas Attorney General.
Box
2001/150-1 Texas Prepaid Higher Education Tuition Board minutes, 1995-1999
[Folder contains list of attendees for each board-at-large meeting between 1995 and 1999 as well as signed minutes for this time period.]
Initial board meeting, November 10, 1995
[3 folders]
Board meeting, December 18, 1995
[2 folders]
Board meeting, February 12, 1996
[2 folders]
Board meeting, May 20, 1996
[2 folders]
Board meeting, September 5, 1996
[2 folders]
Board meeting, October 21, 1996
[folders 1-2 of 3]
Box
2001/150-2 Board meeting, October 21, 1996
[folder 3 of 3]
Board meeting, January 31, 1997
[3 folders]
Box
2016/096-1 Texas Prepaid Tuition Scholarship Foundation board meeting, March 4, 1997
Texas Prepaid Tuition Scholarship Foundation board meeting, September 8, 1997
Box
2001/150-2 Board meeting, September 8, 1997
[4 folders]
Box
2001/150-3 Board meeting, November 12, 1997
[3 folders]
Meeting of Texas Tomorrow Fund Committee to vote on custodian, December 22, 1997
[4 folders]
Board meeting, March 3, 1998
Investment Fund Manager Committee and Bank Custodian Selection Committee meetings, March 3, 1998
Board meeting, March 26, 1998
Investment Committee meeting, March 26, 1998
Box
2016/096-1 Texas Prepaid Tuition Scholarship Foundation board meeting, May 27, 1998
Box
2001/150-4 Board meeting, September 16, 1998
[3 folders]
Board meeting, December 11, 1998
[3 folders]
Board meeting, January 8, 1999
Board meeting, February 24, 1999
Texas Prepaid Tuition Scholarship Foundation board meeting, May 24, 1999
Board meeting, June 7, 1999
[folder 1 of 2]
Box
2001/150-5 Board meeting, June 7, 1999
[folder 2 of 2]
Board meeting, August 20, 1999
[3 folders]
Investment Committee meeting, December 1, 1999
Board meeting, December 7, 1999
Box
2016/096-1 Board meeting, February 14, 2000
Box
2016/096-2 Board meeting, April 26, 2000
Investment Committee meeting, May 10, 2000
Board meeting, June 6, 2000
Board meeting, September 6, 2000
Investment Committee meeting, November 17, 2000
Board meeting, December 18, 2000
Board meeting, January 9, 2001
Board meeting, February 6, 2000
[2 folders]
Investment Committee meeting, March 7, 2001
Investment Committee meeting, April 23, 2001
Investment Committee meeting, May 1, 2001
[2 folders]
Box
2016/096-3 Investment Committee and Board meetings, May 11, 2001
Investment Committee meeting, May 18, 2001
Board meeting, June 12, 2001
Board meeting, August 17, 2001
Investment Committee and Board meetings, September 26, 2001
Board meeting, November 19, 2001
Investment Committee meeting, January 2, 2002
Board meeting, January 17, 2002
Board meeting, February 11, 2002
Board meeting, February 19, 2002
Investment Committee meeting, March 12, 2002
Investment Committee meeting, May 1, 2002
Board meeting, June 5, 2002
Box
2016/096-4 Board meeting, June 28, 2002
Investment Committee meeting, August 26, 2002
Investment Committee meeting, September 30, 2002
Board meeting, October 8, 2002
Investment Committee meeting, February 17, 2003
Investment Committee meeting, March 4, 2003
Board meeting, March 5, 2003
Investment Committee meeting, May 7, 2003
Board meeting, June 4, 2003
Investment Committee meeting, August 8, 2003
Investment Committee meeting, August 27, 2003
Board meeting, September 3, 2003
Box
2016/096-5 Investment Committee meeting, October 30, 2003
Board meeting, December 3, 2003
Investment Committee meeting, January 7, 2004
Investment Committee meeting, March 3, 2004
Board meeting, March 10, 2004
[Board meeting cancelled.]
Investment Committee meeting, March 31, 2004
[2 folders]
Investment Committee meeting, May 19, 2004
Box
2016/096-6 Board meeting, June 2, 2004
Investment Committee meeting, August 31, 2004
Board meeting, September 15, 2004
Investment Committee meeting, November 30, 2004
Board meeting, December 1, 2004
Investment Committee meeting, January 26, 2005
Investment Committee meeting, March 1, 2005
Board meeting, March 9, 2005
Investment Committee meeting, May 10, 2005
Box
2016/096-7 Board meeting, June 1, 2005
Board meeting, September 7, 2005
[Board meeting cancelled.]
Investment Committee meeting, September 7, 2004
Investment Committee meeting, December 7, 2004
Board meeting, December 7, 2004
Investment Committee meeting, January 18, 2006
Board meeting, April 5, 2006
Investment Committee meeting, April 5, 2006
Investment Committee meeting, June 6, 2006
Box
2016/096-8 Board meeting, June 7, 2006
Investment Committee meeting, September 20, 2006
Board meeting, November 15, 2006
Board meeting, March 29, 2007
Board meeting, June 20, 2007
[3 folders]
Board meeting, July 24, 2007
Board meeting, October 3, 2007
Box
2016/096-9 Board meeting, November 14, 2007
[2 folders]
Board meeting, December 20, 2007
Board meeting, January 16, 2008
Board meeting, February 6, 2008
Board meeting, April 15, 2008
Board meeting, May 6, 2008
Box
2016/096-10 Board meeting, June 17, 2008
Board meeting, August 5, 2008
Board meeting, November 18, 2008
Board meeting, January 26, 2009
Box
2016/096-11 Board meeting, March 2, 2009
Board meeting, May 12, 2009
Board meeting, June 17, 2009
Board meeting, August 18, 2009
Board meeting, November 5, 2009
Board meeting, December 23, 2009
Box
2016/096-12 Board meeting, February 16, 2010
Board meeting, May 18, 2010
Board meeting, August 10, 2010
Board meeting, December 3, 2010
Box
2016/096-13 Board meeting, March 22, 2011
Board meeting, May 17, 2011
Board meeting, August 16, 2011
Board meeting, November 15, 2011
Box
2016/096-14 Board meeting, February 14, 2012
Board meeting, May 17, 2012
Board meeting, August 14, 2012
Board meeting, November 12-13, 2012
Box
2016/096-15 Board meeting, March 4, 2013
Board meeting, May 14, 2013
Board meeting, August 20, 2013
Board meeting, October 1, 2013
Board meeting, November 12, 2013
Board meeting, February 14, 2014
Box
2016/096-16 Board meeting, May 13, 2014
Board meeting, August 19, 2014
Board meeting, November 18, 2014
Board meeting, February 10, 2015
Board meeting, May 19, 2015
Board meeting, August 11, 2015
Box
2016/096-17 Board meeting, November 17, 2015



Texas Prepaid Higher Education Tuition Board plans and planning records, 1995-1998,
0.8 cubic ft.

Plans and planning records series provides an overview of the Texas Prepaid Higher Education Tuition Board administration of the Texas Tomorrow Fund, especially in regards to the vendor and investment plan selection process. Records include reports, correspondence, proposals, memorandums, contracts, and performance analyses, dating 1995-1998. Subjects include Texas Prepaid Higher Education Tuition Program structure and requirements, tax implications for contributors and beneficiaries, changes in Internal Revenue Service guidelines, program needs for outside investment managers, trademark and patent ownership of prepaid tuition programs, comparison of different state-backed programs, and assessment of investment options.
Arrangement
These records are arranged topically as received by agency. Records are arranged in rough chronological order within each folder.
Preferred Citation
(Identify the item), Plans and planning records, Texas Prepaid Higher Education Tuition Board records. Archives and Information Services Division, Texas State Library and Archives Commission.
Processing Information
Processed by Anna M. Reznik, April 2016
Accession Information
Accession number: 2016/096
These records were transferred to the Archives and Information Services Division of the Texas State Library and Archives Commission by the Texas Comptroller's Office on February 25, 2016.
Restrictions on Access
Because of the possibility that portions of these records fall under Public Information Act exceptions including, but not limited to attorney-client working papers (Texas Government Code, Section 552.107), an archivist must review these records before they can be accessed for research. The records may be requested for research under the provisions of the Public Information Act (Texas Government Code, Chapter 552).
Refer to the overall restriction statement for instructions on requesting access through the Texas Attorney General.
TTF (Texas Tomorrow Fund) - Federal information:
Box
2016/096-1 Ernest & Young reports, 1995
Tax treatment of state tuition programs - Senator Bob Graham, November 9, 1996
Testimony of the College Savings Plan Network presented by Marshall Bennett, State Treasurer of Mississippi, regarding Education Tax Proposals before the Committee on Finance, U.S. Senate, April 16, 1997
TTF - Program rules, 1995-1996
TTF - RFP (Request For Proposal) direct support organization, 1996-1997
General legal issues, 1995-1997
TTF - Patent\Trademark issues, 1997
TTF - Investment Manager RFP, 1997-1998