LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 8, 2017 TO: Honorable Dan Flynn, Chair, House Committee on Pensions FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1119 by Fallon (Relating to the standard service retirement annuity for certain members of the elected class of the Employees Retirement System of Texas.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend Government Code to modify the service retirement annuity for members who join the elected class on or after September 1, 2017. The bill would limit the service retirement annuity for service credited in the elected class of membership, all of which was earned as member of the legislature, to the number of years of service times two percent of $140,000. The Employees Retirement System assumes any additional work associated with implementing the provisions of the bill could be absorbed using existing resources. The bill would take effect September 1, 2017. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:327 Employees Retirement System LBB Staff: UP, AG, NV, KFa, ASa
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
April 8, 2017
TO: Honorable Dan Flynn, Chair, House Committee on Pensions FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1119 by Fallon (Relating to the standard service retirement annuity for certain members of the elected class 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: HB1119 by Fallon (Relating to the standard service retirement annuity for certain members of the elected class 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
HB1119 by Fallon (Relating to the standard service retirement annuity for certain members of the elected class of the Employees Retirement System of Texas.), As Introduced
HB1119 by Fallon (Relating to the standard service retirement annuity for certain members of the elected class 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 Government Code to modify the service retirement annuity for members who join the elected class on or after September 1, 2017. The bill would limit the service retirement annuity for service credited in the elected class of membership, all of which was earned as member of the legislature, to the number of years of service times two percent of $140,000. The Employees Retirement System assumes any additional work associated with implementing the provisions of the bill could be absorbed using existing resources. The bill would take effect September 1, 2017.
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, NV, KFa, ASa
UP, AG, NV, KFa, ASa