LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
75th Regular Session
May 14, 1997
TO: Honorable Kenneth Armbrister, Chair IN RE: House Bill No. 2029, As Engrossed
Committee on State Affairs By: Turner,Bob
Senate
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on HB2029 ( Relating
to retirement because of disability under the Employees Retirement
System of Texas.) this office has detemined the following:
Biennial Net Impact to General Revenue Funds by HB2029-As Engrossed
No fiscal implication to the State is anticipated.
This bill would provide occupational disability benefits to
contributing members of the Employees Retirement System (ERS)
who are injured while on active duty with the Texas National
Guard or the Texas State Guard and are discharged from that
entity and cease State employment. The bill would become effective
September 1, 1997.
The normal cost of the ERS is expected
to increase from 12.305% to 12.307%, or approximately $80,000
a year. The liabilities of the ERS would increase by $600,000.
However, the fund has a sufficient actuarial surplus to absorb
this increase in liabilities, and an increase in the state's
contributions would not be necessary.
No fiscal implication to units of local government is anticipated.
Source: Agencies: 327 Employees Retirement System
LBB Staff: JK ,JD ,PE ,SC