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Senate Bill 2190 |
Senate Author: Huffman |
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Effective: 7-1-17 |
House Sponsor: Flynn et al. |
Senate Bill 2190 amends the Revised Statutes and Vernon's Texas Civil Statutes to revise and update provisions relating to the Houston Firefighters' Relief and Retirement Fund, Houston Police Officers' Pension System, and Houston Municipal Employees Pension System. Among other provisions, the bill revises and sets out provisions relating to the administration and actuarial review of the fund and those systems, required municipal contributions to the fund and systems, membership and member contributions, service retirement benefits and benefit adjustments, and certain alternative and cash balance retirement plans. The bill provides for certain risk sharing mechanisms and the actuarial assumptions and methods for reviewing the fund and systems.
Senate Bill 2190 amends the Local Government Code to condition Houston's authority to issue an obligation to fund all or any part of the fund's or systems' unfunded liabilities on the issuance of such an obligation receiving voter approval.