LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 15, 2021 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB321 by Huffman (Relating to the state contribution to the Employees Retirement System of Texas.), As Introduced No fiscal implication to the State is anticipated. The bill amends the Government Code to increase the state contribution rate specified in statue from 7.4 percent to 9.5 percent of the total compensation for all members of the retirement system for that year. Since the bill aligns the state contribution rate in statute with current appropriation levels, no fiscal impact from the provisions of the bill is anticipated. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 327 Employees Retirement System LBB Staff: b > td > JMc, KK, LCO, JPO
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 15, 2021
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB321 by Huffman (Relating to the state contribution to the Employees Retirement System of Texas.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB321 by Huffman (Relating to the state contribution to the Employees Retirement System of Texas.), As Introduced
Honorable Jane Nelson, Chair, Senate Committee on Finance
Honorable Jane Nelson, Chair, Senate Committee on Finance
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB321 by Huffman (Relating to the state contribution to the Employees Retirement System of Texas.), As Introduced
SB321 by Huffman (Relating to the state contribution to the Employees Retirement System of Texas.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill amends the Government Code to increase the state contribution rate specified in statue from 7.4 percent to 9.5 percent of the total compensation for all members of the retirement system for that year. Since the bill aligns the state contribution rate in statute with current appropriation levels, no fiscal impact from the provisions of the bill is anticipated.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 327 Employees Retirement System
327 Employees Retirement System
LBB Staff: b > td > JMc, KK, LCO, JPO
JMc, KK, LCO, JPO