LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 14, 2021 TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3902 by Anchia (Relating to the resumption of employment by certain retirees within the Texas Municipal Retirement System.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Government Code to allow a retired Texas Municipal Retirement System (TMRS) member to be reemployed by the same city after a one-year break in service without having their benefit payments suspended. This would be a decrease from the current waiting period of eight years. According to the Pension Review Board (PRB), no significant impact is anticipated from the provisions of the bill. According to the actuarial impact statement provided by the PRB, the bill would not have an actuarial impact on TMRS as a system or on any TMRS participating city. Local Government ImpactAccording to the Texas Municipal Retirement System (TMRS), no fiscal impact to TMRS participating cities is anticipated and no significant fiscal impact to TMRS is anticipated. Source Agencies: b > td > 338 Pension Review Board LBB Staff: b > td > JMc, AAL, LCO, JPO, KK, AF
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 14, 2021
TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB3902 by Anchia (Relating to the resumption of employment by certain retirees within the Texas Municipal Retirement System.), As Introduced
TO: Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB3902 by Anchia (Relating to the resumption of employment by certain retirees within the Texas Municipal Retirement System.), 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
HB3902 by Anchia (Relating to the resumption of employment by certain retirees within the Texas Municipal Retirement System.), As Introduced
HB3902 by Anchia (Relating to the resumption of employment by certain retirees within the Texas Municipal Retirement System.), 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 allow a retired Texas Municipal Retirement System (TMRS) member to be reemployed by the same city after a one-year break in service without having their benefit payments suspended. This would be a decrease from the current waiting period of eight years. According to the Pension Review Board (PRB), no significant impact is anticipated from the provisions of the bill. According to the actuarial impact statement provided by the PRB, the bill would not have an actuarial impact on TMRS as a system or on any TMRS participating city.
Local Government Impact
According to the Texas Municipal Retirement System (TMRS), no fiscal impact to TMRS participating cities is anticipated and no significant fiscal impact to TMRS is anticipated.
Source Agencies: b > td > 338 Pension Review Board
338 Pension Review Board
LBB Staff: b > td > JMc, AAL, LCO, JPO, KK, AF
JMc, AAL, LCO, JPO, KK, AF