LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 14, 2017 TO: Honorable Dan Flynn, Chair, House Committee on Pensions FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2434 by Flynn (Relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Government Code relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.The Texas Emergency Services Retirement System and the Pension Review Board assume any additional work associated with implementing the provisions of the bill could be absorbed using existing resources.The bill would take effect on September 1, 2017. Local Government Impact According to the Texas Association of Counties, no significant fiscal impact is anticipated. According to the Texas Municipal Retirement System, no fiscal impact is anticipated. Source Agencies:326 Texas Emergency Services Retirement System, 338 Pension Review Board LBB Staff: UP, AG, KFa, ASa, BM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
April 14, 2017
TO: Honorable Dan Flynn, Chair, House Committee on Pensions FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2434 by Flynn (Relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.), As Introduced
TO: Honorable Dan Flynn, Chair, House Committee on Pensions
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2434 by Flynn (Relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.), 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
HB2434 by Flynn (Relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.), As Introduced
HB2434 by Flynn (Relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.), 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 relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.The Texas Emergency Services Retirement System and the Pension Review Board assume any additional work associated with implementing the provisions of the bill could be absorbed using existing resources.The bill would take effect on September 1, 2017.
Local Government Impact
According to the Texas Association of Counties, no significant fiscal impact is anticipated. According to the Texas Municipal Retirement System, no fiscal impact is anticipated.
Source Agencies: 326 Texas Emergency Services Retirement System, 338 Pension Review Board
326 Texas Emergency Services Retirement System, 338 Pension Review Board
LBB Staff: UP, AG, KFa, ASa, BM
UP, AG, KFa, ASa, BM