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:HB3355 by Truitt (Relating to purchase of service credit in the Teacher Retirement System of Texas.), As Introduced No significant fiscal implication to the State is anticipated. According to the Teacher Retirement System, this bill would provide for a more efficient and uniform process to purchase retirement service credit, and would not increase the pension trust fund 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:HB3355 by Truitt (Relating to purchase of service credit in 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: HB3355 by Truitt (Relating to purchase of service credit in 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
HB3355 by Truitt (Relating to purchase of service credit in the Teacher Retirement System of Texas.), As Introduced
HB3355 by Truitt (Relating to purchase of service credit in the Teacher Retirement System of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
According to the Teacher Retirement System, this bill would provide for a more efficient and uniform process to purchase retirement service credit, and would not increase the pension trust fund 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