87R24189 KFF-D
By: Stephenson H.B. No. 4643
Substitute the following for H.B. No. 4643:
By: Rogers C.S.H.B. No. 4643
A BILL TO BE ENTITLED
AN ACT
relating to a study by the comptroller to implement a pilot program
that establishes a pension revenue enhancement plan for the
Employees Retirement System of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. INTERIM STUDY ON PENSION REVENUE ENHANCEMENT
PLAN. The comptroller of public accounts, in consultation with the
board of trustees of the Employees Retirement System of Texas, the
Texas Department of Insurance, and any other agency or person the
comptroller determines appropriate, shall conduct a study
regarding the feasibility and anticipated financial impact of
implementing a pilot program to establish a pension revenue
enhancement plan that is the same as or similar to the pilot program
proposed in the introduced version of H.B. No. 4643, Acts of the
87th Legislature, Regular Session, 2021. In conducting the study,
the comptroller may only consider implementation under the pilot
program of a pension revenue enhancement plan that is designed to be
mortality neutral.
SECTION 2. FINDINGS AND RECOMMENDATIONS. Not later than
September 1, 2022, the comptroller of public accounts shall report
the comptroller's findings and recommendations to the governor, the
lieutenant governor, the speaker of the house of representatives,
and each member of the legislature. If the comptroller recommends
implementation of the pilot program, the comptroller shall include
in the recommendations specific statutory and regulatory changes
that the comptroller determines necessary or appropriate to
implement the recommendations, including, if appropriate,
recommendations for changes to the legislation referenced in
Section 1 of this Act.
SECTION 3. EXPIRATION OF ACT. This Act expires September
15, 2022.
SECTION 4. EFFECTIVE DATE. This Act takes effect
immediately if it receives a vote of two-thirds of all the members
elected to each house, as provided by Section 39, Article III, Texas
Constitution. If this Act does not receive the vote necessary for
immediate effect, this Act takes effect September 1, 2021.