LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION March 7, 2011 TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB551 by Christian (Relating to the eligibility of members of the State Board of Education to participate in a state employees group benefits program.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Insurance Code, Section 1551.101 to make members of the State Board of Education eligible to participate in the Employees Retirement System's Group Benefits Program (GBP). It is assumed that the contributions would be paid for by the estimated 15 new members to the GBP. It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources. The bill would take effect September 1, 2011. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:327 Employees Retirement System LBB Staff: JOB, AG, MS, DEH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
March 7, 2011
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB551 by Christian (Relating to the eligibility of members of the State Board of Education to participate in a state employees group benefits program.), 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: HB551 by Christian (Relating to the eligibility of members of the State Board of Education to participate in a state employees group benefits program.), 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
HB551 by Christian (Relating to the eligibility of members of the State Board of Education to participate in a state employees group benefits program.), As Introduced
HB551 by Christian (Relating to the eligibility of members of the State Board of Education to participate in a state employees group benefits program.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Insurance Code, Section 1551.101 to make members of the State Board of Education eligible to participate in the Employees Retirement System's Group Benefits Program (GBP). It is assumed that the contributions would be paid for by the estimated 15 new members to the GBP. It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources. The bill would take effect September 1, 2011.
The bill would amend Insurance Code, Section 1551.101 to make members of the State Board of Education eligible to participate in the Employees Retirement System's Group Benefits Program (GBP).
It is assumed that the contributions would be paid for by the estimated 15 new members to the GBP. It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources.
The bill would take effect September 1, 2011.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 327 Employees Retirement System
327 Employees Retirement System
LBB Staff: JOB, AG, MS, DEH
JOB, AG, MS, DEH