Texas House Bill HB2455

Texas 2009 - 81st Regular

Caption

Relating to a one-time supplemental annuity payment by the Employees Retirement System of Texas.

Impact

If enacted, HB2455 would directly impact the financial support available to retirees and their beneficiaries from the Employees Retirement System. By providing a supplemental payment, the bill aims to enhance the income of eligible annuitants temporarily, which could be particularly significant in circumstances of economic distress. This payment is not meant to replace regular annuity payments but rather to supplement them, potentially aiding in covering basic living expenses amidst financial challenges.

Summary

House Bill 2455 addresses the provision of a one-time supplemental annuity payment by the Employees Retirement System of Texas. This bill outlines the circumstances under which eligible retirees and beneficiaries can receive a supplemental payment, specifically tying it to the gross amount of their regular annuity payment or a cap of $2,400, whichever is less. The intention of the bill is to provide financial support to eligible annuitants within the state, leveraging funds from the American Recovery and Reinvestment Act of 2009 or other appropriations.

Contention

Potential contention surrounding HB2455 may arise from budgetary concerns regarding the sourcing of funds for the supplementary payments. As the bill states eligibility is contingent on the availability of appropriated funds, questions may be raised about the financial implications of recurring supplemental payments in the future. Additionally, there may be discussions regarding the eligibility criteria, especially related to retirees within elected classes of the retirement system who are expressly excluded from this benefit. The potential for differing interpretations of the eligibility provisions could also lead to debates amongst stakeholders.