LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 3, 2015 TO: Honorable Dan Flynn, Chair, House Committee on Pensions FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3573 by Alonzo (Relating to the composition of the board of trustees of the Employees Retirement System of Texas.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Government Code to increase the number of members on the Employees Retirement System (ERS) board of trustees from six to seven. The bill would also require that four members of the board be nominated and elected by members of the retirement system and that one of the elected members be a retiree. ERS anticipates that any additional administrative costs associated with implementing the bill could be absorbed within existing resources. The bill would take effect September 1, 2015. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:327 Employees Retirement System LBB Staff: UP, AG, EP, EMo
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 3, 2015
TO: Honorable Dan Flynn, Chair, House Committee on Pensions FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB3573 by Alonzo (Relating to the composition of the board of trustees of the Employees Retirement System of Texas.), As Introduced
TO: Honorable Dan Flynn, Chair, House Committee on Pensions
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB3573 by Alonzo (Relating to the composition of the board of trustees of the Employees Retirement System of Texas.), 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
HB3573 by Alonzo (Relating to the composition of the board of trustees of the Employees Retirement System of Texas.), As Introduced
HB3573 by Alonzo (Relating to the composition of the board of trustees of the Employees Retirement System of Texas.), As Introduced
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 number of members on the Employees Retirement System (ERS) board of trustees from six to seven. The bill would also require that four members of the board be nominated and elected by members of the retirement system and that one of the elected members be a retiree. ERS anticipates that any additional administrative costs associated with implementing the bill could be absorbed within existing resources. The bill would take effect September 1, 2015.
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: UP, AG, EP, EMo
UP, AG, EP, EMo