LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
75th Regular Session
April 17, 1997
TO: Honorable Eddie Lucio, Jr., Chair IN RE: House Bill No. 1113, As Engrossed
Committee on Intergovernmental Relations By: Kuempel
Senate
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on HB1113 ( relating
to participation and credit in, contributions to, and benefits
and administration of the Texas Municipal Retirement System)
this office has detemined the following:
Biennial Net Impact to General Revenue Funds by HB1113-As Engrossed
No fiscal implication to the State is anticipated.
The bill would make technical changes to the Texas Municipal
Retirement System (TMRS) statutes in response to changes in
federal law, allow for a partial lump sum distribution option,
and make changes in allowable amortization periods for member
cities when actuarial assumptions change. The basic structure
of TMRS allows municipalities to choose among various plan options.
There are new options in this bill which could increase costs
for municipalities that choose them, however any increased costs
would be known to the municipality and TMRS before a change
in plan structure could be adapted by the municipality.
It
is not anticipated that the bill would result in increased costs
for member municipalities. Under certain scenarios, the extended
amortization periods would decrease costs for some member municipalities.
Source: Agencies:
LBB Staff: JK ,TL ,WM