LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 26, 2013 TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1436 by Paxton (Relating to the service retirement annuity of certain members of the Judicial Retirement System of Texas Plan One.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend the Government Code to increase the limit to 100 percent on service retirement annuities to annuitants under the Judicial Retirement System Plan One (JRS-I), from the previous limit of 90 percent. The Employees Retirement System (ERS) anticipates that the bill would minimally increase the unfunded liability of JRS-I by $5,000 in All Funds. The bill would take effect September 1, 2013. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:327 Employees Retirement System, 405 Department of Public Safety, 407 Commission on Law Enforcement Officer Standards and Education, 701 Central Education Agency LBB Staff: UP, AG, EP, EMo, ESi, AI, JAW, JBi, RB, JJO
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 26, 2013
TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1436 by Paxton (Relating to the service retirement annuity of certain members of the Judicial Retirement System of Texas Plan One.), Committee Report 1st House, Substituted
TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1436 by Paxton (Relating to the service retirement annuity of certain members of the Judicial Retirement System of Texas Plan One.), Committee Report 1st House, Substituted
Honorable Robert Duncan, Chair, Senate Committee on State Affairs
Honorable Robert Duncan, Chair, Senate Committee on State Affairs
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1436 by Paxton (Relating to the service retirement annuity of certain members of the Judicial Retirement System of Texas Plan One.), Committee Report 1st House, Substituted
SB1436 by Paxton (Relating to the service retirement annuity of certain members of the Judicial Retirement System of Texas Plan One.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to increase the limit to 100 percent on service retirement annuities to annuitants under the Judicial Retirement System Plan One (JRS-I), from the previous limit of 90 percent. The Employees Retirement System (ERS) anticipates that the bill would minimally increase the unfunded liability of JRS-I by $5,000 in All Funds. The bill would take effect September 1, 2013.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 327 Employees Retirement System, 405 Department of Public Safety, 407 Commission on Law Enforcement Officer Standards and Education, 701 Central Education Agency
327 Employees Retirement System, 405 Department of Public Safety, 407 Commission on Law Enforcement Officer Standards and Education, 701 Central Education Agency
LBB Staff: UP, AG, EP, EMo, ESi, AI, JAW, JBi, RB, JJO
UP, AG, EP, EMo, ESi, AI, JAW, JBi, RB, JJO