Texas Senate Bill SB803

Texas 2021 - 87th Regular

Caption

Relating to certain increases in benefits under the firefighters' relief and retirement fund in certain municipalities.

Impact

If enacted, this bill will lead to an increase in retirement and survivor benefits for eligible firefighters, which may positively impact their financial security after service. The new structure for benefit calculations aims to provide a more stable and predictable income stream for retired firefighters, aligning their benefits with the financial performance of the retirement fund. This adjustment may also attract new recruits into firefighting positions, knowing that they will receive enhanced benefits after retirement.

Summary

SB803 aims to amend the existing laws regarding benefits under the firefighters' relief and retirement fund in certain municipalities. The bill specifically focuses on increasing benefits for members who have terminated active service and who meet certain age and disability criteria. The adjustments to benefits will be calculated based on a specified rate that reflects the performance of the fund over the past five fiscal years, minus a set percentage.

Contention

One area of contention could arise from the financial implications of increasing benefits, particularly regarding the source of funding for such increases. Municipalities may be concerned about potential budgetary impacts, as they would need to ensure that funds are available to support these enhancements without placing undue strain on their resources. Discussions around the sustainability of the retirement fund's performance over the long term may also be a point of debate amongst stakeholders.