LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 26, 2015 TO: Honorable Dan Flynn, Chair, House Committee on Pensions FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3100 by Lozano (Relating to the accrual of interest on annuity and other payments made to certain retirees who have resumed employment within the Texas Municipal Retirement System.), As Introduced No fiscal implication to the State is anticipated. The bill would amend the Government Code to require the accrual of interest on annuity and other payments to be made to certain retirees who have resumed employment within the Texas Municipal Retirement System. Local Government Impact According to Texas Municipal Retirement System (TMRS), 129 municipalities that employ 214 return to work retirees could have actuarial losses that could increase each city's contribution rate. TMRS reported there could be actuarial losses to other cities if additional retirees return to work in those cities. TMRS reported costs of $333,000 for reprogramming of internal computers and actuarial systems, program modifications, and informational material updates to implement the provisions of the bill. According to TMRS, there could be costs with the suspending of current programs in order to make the programming changes as required by the provisions of the bill; however, these costs cannot be determined. Source Agencies: LBB Staff: UP, AG, SD, EK, KFa
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 26, 2015
TO: Honorable Dan Flynn, Chair, House Committee on Pensions FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3100 by Lozano (Relating to the accrual of interest on annuity and other payments made to certain retirees who have resumed employment within the Texas Municipal Retirement System.), As Introduced
TO: Honorable Dan Flynn, Chair, House Committee on Pensions
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB3100 by Lozano (Relating to the accrual of interest on annuity and other payments made to certain retirees who have resumed employment within the Texas Municipal Retirement System.), As Introduced
Honorable Dan Flynn, Chair, House Committee on Pensions
Honorable Dan Flynn, Chair, House Committee on Pensions
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB3100 by Lozano (Relating to the accrual of interest on annuity and other payments made to certain retirees who have resumed employment within the Texas Municipal Retirement System.), As Introduced
HB3100 by Lozano (Relating to the accrual of interest on annuity and other payments made to certain retirees who have resumed employment within the Texas Municipal Retirement System.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Government Code to require the accrual of interest on annuity and other payments to be made to certain retirees who have resumed employment within the Texas Municipal Retirement System.
Local Government Impact
According to Texas Municipal Retirement System (TMRS), 129 municipalities that employ 214 return to work retirees could have actuarial losses that could increase each city's contribution rate. TMRS reported there could be actuarial losses to other cities if additional retirees return to work in those cities. TMRS reported costs of $333,000 for reprogramming of internal computers and actuarial systems, program modifications, and informational material updates to implement the provisions of the bill. According to TMRS, there could be costs with the suspending of current programs in order to make the programming changes as required by the provisions of the bill; however, these costs cannot be determined.
Source Agencies:
LBB Staff: UP, AG, SD, EK, KFa
UP, AG, SD, EK, KFa