LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION April 18, 2011 TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB3353 by Truitt (Relating to the resumption of service by retirees under the Teacher Retirement System of Texas.), As Introduced No fiscal implication to the State is anticipated. The bill would amend the Government Code regarding return-to-work provisions for members of the Teacher Retirement System (TRS) who retire under Section 824.202 (a) or (a-1) after January 1, 2011. The bill would allow members to return to employment in a public school after separation from service for at least twelve full consecutive months without the TRS withholding their monthly annuity payment. According to the TRS, the bill would not increase the funding period beyond 30 years as required by statute. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:323 Teacher Retirement System LBB Staff: JOB, AG, JGM, KJG, SD, JW
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
April 18, 2011
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB3353 by Truitt (Relating to the resumption of service by retirees under the Teacher Retirement System of Texas.), 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: HB3353 by Truitt (Relating to the resumption of service by retirees under the Teacher Retirement System of Texas.), 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
HB3353 by Truitt (Relating to the resumption of service by retirees under the Teacher Retirement System of Texas.), As Introduced
HB3353 by Truitt (Relating to the resumption of service by retirees under the Teacher Retirement System of Texas.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Government Code regarding return-to-work provisions for members of the Teacher Retirement System (TRS) who retire under Section 824.202 (a) or (a-1) after January 1, 2011. The bill would allow members to return to employment in a public school after separation from service for at least twelve full consecutive months without the TRS withholding their monthly annuity payment. According to the TRS, the bill would not increase the funding period beyond 30 years as required by statute.
The bill would amend the Government Code regarding return-to-work provisions for members of the Teacher Retirement System (TRS) who retire under Section 824.202 (a) or (a-1) after January 1, 2011.
The bill would allow members to return to employment in a public school after separation from service for at least twelve full consecutive months without the TRS withholding their monthly annuity payment. According to the TRS, the bill would not increase the funding period beyond 30 years as required by statute.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 323 Teacher Retirement System
323 Teacher Retirement System
LBB Staff: JOB, AG, JGM, KJG, SD, JW
JOB, AG, JGM, KJG, SD, JW