LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION March 12, 2023 TO: Honorable Joan Huffman, Chair, Senate Committee on Finance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB729 by Huffman (Relating to the cash balance benefit under the Employees Retirement System of Texas.), As Introduced No significant fiscal implication to the State is anticipated. The bill would make changes associated with the cash balance benefit for individuals hired into state service on or after September 1, 2022. It is assumed that any related costs would be insignificant. 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, 88TH LEGISLATIVE REGULAR SESSION
March 12, 2023
TO: Honorable Joan Huffman, Chair, Senate Committee on Finance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB729 by Huffman (Relating to the cash balance benefit under the Employees Retirement System of Texas.), As Introduced
TO: Honorable Joan Huffman, Chair, Senate Committee on Finance
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB729 by Huffman (Relating to the cash balance benefit under the Employees Retirement System of Texas.), As Introduced
Honorable Joan Huffman, Chair, Senate Committee on Finance
Honorable Joan Huffman, Chair, Senate Committee on Finance
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB729 by Huffman (Relating to the cash balance benefit under the Employees Retirement System of Texas.), As Introduced
SB729 by Huffman (Relating to the cash balance benefit under the Employees 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 make changes associated with the cash balance benefit for individuals hired into state service on or after September 1, 2022. It is assumed that any related costs would be insignificant.
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