LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION March 28, 2023 TO: Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB2464 by Price (Relating to optional annuity increases for certain retirees and beneficiaries of the Texas Municipal Retirement System.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Government Code to permit optional annuity increases for certain retirees and beneficiaries of the Texas Municipal Retirement System (TMRS). It is assumed any costs associated with implementing the provisions of the bill could be absorbed using existing resources. Local Government ImpactAccording to TMRS, most cities that adopt annuity increases provided by the provisions of the bill would see annuity expenses reduced compared to current options to increase annuities. Source Agencies: b > td > LBB Staff: b > td > JMc, MOc, LCO, JPO
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
March 28, 2023
TO: Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB2464 by Price (Relating to optional annuity increases for certain retirees and beneficiaries of the Texas Municipal Retirement System.), As Introduced
TO: Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB2464 by Price (Relating to optional annuity increases for certain retirees and beneficiaries of the Texas Municipal Retirement System.), As Introduced
Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB2464 by Price (Relating to optional annuity increases for certain retirees and beneficiaries of the Texas Municipal Retirement System.), As Introduced
HB2464 by Price (Relating to optional annuity increases for certain retirees and beneficiaries of 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 permit optional annuity increases for certain retirees and beneficiaries of the Texas Municipal Retirement System (TMRS). It is assumed any costs associated with implementing the provisions of the bill could be absorbed using existing resources.
Local Government Impact
According to TMRS, most cities that adopt annuity increases provided by the provisions of the bill would see annuity expenses reduced compared to current options to increase annuities.
Source Agencies: b > td >
LBB Staff: b > td > JMc, MOc, LCO, JPO
JMc, MOc, LCO, JPO