LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION April 1, 2011 TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB1668 by Duncan (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, KJG, JGM, SD, JW
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
April 1, 2011
TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB1668 by Duncan (Relating to purchase of service credit in the Teacher Retirement System of Texas.), As Introduced
TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB1668 by Duncan (Relating to purchase of service credit in the Teacher Retirement System of Texas.), As Introduced
Honorable Robert Duncan, Chair, Senate Committee on State Affairs
Honorable Robert Duncan, Chair, Senate Committee on State Affairs
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
SB1668 by Duncan (Relating to purchase of service credit in the Teacher Retirement System of Texas.), As Introduced
SB1668 by Duncan (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, KJG, JGM, SD, JW
JOB, KJG, JGM, SD, JW