LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 18, 2021 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB483 by Schwertner (Relating to a biennial report on the investment returns of the Employees Retirement System of Texas and the Teacher Retirement System of Texas.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Government Code to require the Employees Retirement System (ERS) and Teacher Retirement System of Texas (TRS) to provide a biennial report on investment returns. According to ERS and TRS, no significant fiscal impact is anticipated from implementing the provisions of the bill.The bill would take effect September 1, 2021. Local Government ImpactNo significant fiscal implication to units of local government is anticipated. Source Agencies: b > td > 323 Teacher Retirement System, 327 Employees Retirement System LBB Staff: b > td > JMc, KK, LCO, JPO
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 18, 2021
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB483 by Schwertner (Relating to a biennial report on the investment returns of the Employees Retirement System of Texas and the Teacher Retirement System of Texas.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB483 by Schwertner (Relating to a biennial report on the investment returns of the Employees Retirement System of Texas and the Teacher 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
SB483 by Schwertner (Relating to a biennial report on the investment returns of the Employees Retirement System of Texas and the Teacher Retirement System of Texas.), As Introduced
SB483 by Schwertner (Relating to a biennial report on the investment returns of the Employees Retirement System of Texas and the Teacher Retirement System of Texas.), 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 require the Employees Retirement System (ERS) and Teacher Retirement System of Texas (TRS) to provide a biennial report on investment returns. According to ERS and TRS, no significant fiscal impact is anticipated from implementing the provisions of the bill.The bill would take effect September 1, 2021.
The bill would take effect September 1, 2021.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 323 Teacher Retirement System, 327 Employees Retirement System
323 Teacher Retirement System, 327 Employees Retirement System
LBB Staff: b > td > JMc, KK, LCO, JPO
JMc, KK, LCO, JPO