Texas PSF operates under the oversight of a board of directors who serve as fiduciaries of the Permanent School Fund. The board’s responsibilities include approving the asset allocation policy for the Fund, approving performance benchmarks for the total Fund and for individual asset classes, evaluating the investment performance of the portfolio, ensuring compliance with the asset allocation, and assessing risk to the fund. The board of directors also works with Texas PSF management to help set overall strategic direction. The board meets at least three times per year.
The board is responsible for hiring a chief executive officer who is empowered to run the day-to-day operations of the Corporation.
The board comprises five members of the State Board of Education, the Land Commissioner, and one Land Commissioner appointee along with two gubernatorial appointees (the last three must have substantial expertise in investments and asset management.)
Current members
| Name | Hometown | Term Expiration Date |
| Tom Maynard, Chair – State Board of Education | Florence | 1/1/2025 |
| Brad Wright, Vice Chair – Gubernatorial appointee | Houston | 1/1/2027 |
| Aaron Kinsey, Secretary – State Board of Education | Midland | 1/1/2025 |
| Dawn Buckingham, M.D. – General Land Office Commissioner | Lakeway | 1/1/2027 |
| Keven Ellis, D.C. – State Board of Education | Lufkin | 1/1/2025 |
| Patricia Hardy – State Board of Education | Fort Worth | 1/1/2025 |
| Marisa Perez-Diaz – State Board of Education | San Antonio | 1/1/2025 |
| Jim Stanislaus – General Land Office appointee | Austin | 1/1/2025 |
| Cliff Thomas – Gubernatorial appointee | Victoria | 1/1/2029 |
Board Committees
Audit and Ethics
- Keven Ellis, Chair
- Tom Maynard
- Marisa Perez – Diaz
Budget/Compensation
- Brad Wright, Chair
- Pat Hardy
- Tom Maynard
Strategic Planning and Policy
- Aaron Kinsey, Chair
- Dawn Buckingham
- Tom Maynard
- Jim Stanislaus