LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION March 28, 2011 TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB1608 by Strama (Relating to participation in and contributions to the state employee charitable campaign by retired state employees.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Government Code to allow retired state employees receiving retirement benefits from the Employees Retirement System (ERS) to participate on the state employee charitable campaign policy committee. The bill would also allow a person receiving an annuity from ERS to authorize ERS to deduct a contribution to the state employee charitable campaign from the person's monthly annuity payment. The bill would authorize the ERS Board of Trustees to adopt rules to implement these deductions. ERS reports that there would be administrative costs relating to the start-up and operation of the charitable deduction program. It is assumed that these costs would be funded through the retirement fund's interest earnings, as are other administrative costs for ERS's retirement program. The bill would take effect on September 1, 2011, or immediately with two-thirds vote of all members of the Legislature. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 327 Employees Retirement System LBB Staff: JOB, AG, MS, DEH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
March 28, 2011
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB1608 by Strama (Relating to participation in and contributions to the state employee charitable campaign by retired state employees.), As Introduced
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB1608 by Strama (Relating to participation in and contributions to the state employee charitable campaign by retired state employees.), As Introduced
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
HB1608 by Strama (Relating to participation in and contributions to the state employee charitable campaign by retired state employees.), As Introduced
HB1608 by Strama (Relating to participation in and contributions to the state employee charitable campaign by retired state employees.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Government Code to allow retired state employees receiving retirement benefits from the Employees Retirement System (ERS) to participate on the state employee charitable campaign policy committee. The bill would also allow a person receiving an annuity from ERS to authorize ERS to deduct a contribution to the state employee charitable campaign from the person's monthly annuity payment. The bill would authorize the ERS Board of Trustees to adopt rules to implement these deductions. ERS reports that there would be administrative costs relating to the start-up and operation of the charitable deduction program. It is assumed that these costs would be funded through the retirement fund's interest earnings, as are other administrative costs for ERS's retirement program. The bill would take effect on September 1, 2011, or immediately with two-thirds vote of all members of the Legislature.
The bill would amend Government Code to allow retired state employees receiving retirement benefits from the Employees Retirement System (ERS) to participate on the state employee charitable campaign policy committee. The bill would also allow a person receiving an annuity from ERS to authorize ERS to deduct a contribution to the state employee charitable campaign from the person's monthly annuity payment. The bill would authorize the ERS Board of Trustees to adopt rules to implement these deductions.
ERS reports that there would be administrative costs relating to the start-up and operation of the charitable deduction program. It is assumed that these costs would be funded through the retirement fund's interest earnings, as are other administrative costs for ERS's retirement program.
The bill would take effect on September 1, 2011, or immediately with two-thirds vote of all members of the Legislature.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 327 Employees Retirement System
304 Comptroller of Public Accounts, 327 Employees Retirement System
LBB Staff: JOB, AG, MS, DEH
JOB, AG, MS, DEH