LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 6, 2021 TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3207 by Herrero (Relating to preventing the loss of benefits by certain retirees of the Teacher Retirement System of Texas who resume service during a declared disaster.), As Introduced No significant fiscal implication to the State is anticipated. The bill provides that TRS may not withhold an annuity payment if a TRS retiree returns to work in a position in an area subject to a disaster declaration by the Governor or a declaration of local disaster while the declaration is in effect.According to the Actuarial Impact Statement provided by the Pension Review Board, it is unlikely the bill would have an impact to the actuarial soundness of TRS, and the proposed changes have no impact on the projected liabilities of TRS. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 323 Teacher Retirement System LBB Staff: b > td > JMc, AAL, AH, RSTE
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 6, 2021
TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3207 by Herrero (Relating to preventing the loss of benefits by certain retirees of the Teacher Retirement System of Texas who resume service during a declared disaster.), As Introduced
TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB3207 by Herrero (Relating to preventing the loss of benefits by certain retirees of the Teacher Retirement System of Texas who resume service during a declared disaster.), As Introduced
Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB3207 by Herrero (Relating to preventing the loss of benefits by certain retirees of the Teacher Retirement System of Texas who resume service during a declared disaster.), As Introduced
HB3207 by Herrero (Relating to preventing the loss of benefits by certain retirees of the Teacher Retirement System of Texas who resume service during a declared disaster.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill provides that TRS may not withhold an annuity payment if a TRS retiree returns to work in a position in an area subject to a disaster declaration by the Governor or a declaration of local disaster while the declaration is in effect.According to the Actuarial Impact Statement provided by the Pension Review Board, it is unlikely the bill would have an impact to the actuarial soundness of TRS, and the proposed changes have no impact on the projected liabilities of TRS.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 323 Teacher Retirement System
323 Teacher Retirement System
LBB Staff: b > td > JMc, AAL, AH, RSTE
JMc, AAL, AH, RSTE