LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 76th Regular Session
  
                              April 6, 1999
  
  
          TO:  Honorable Sherri Greenberg, Chair, House Committee on
               Pensions & Investments
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HB2405  by Kuempel (Relating to participation and credit
               in, contributions to, and benefits and administration of
               the Texas County and District Retirement System.), As
               Introduced
  
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*  No fiscal implication to the State is anticipated.                    *
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Local Government Impact
  
No significant fiscal implication to units of local government is
anticipated.

The bill would make numerous changes to the Texas County and District
Retirement System (TCDRS). Some of the provisions would add actuarial
costs, but they would not be significant, and passage of the bill would
not cause any of the retirement plans in TCDRS to have an inadequate
financing arrangement, i.e. to be actuarially unsound.

One of the provisions removes the current 11% of payroll limit on TCDRS
contributions made by the employer. If the governing body of a
subdivision in TCDRS elected to do so, it could increase contributions
for its employees by a significant amount. But this would be at the
discretion of the participating subdivision. Other provisions also allow
for new benefit options at the discretion of the subdivisions, but are
not anticipated to have significant fiscal or actuarial impacts.
  
  
Source Agencies:   
LBB Staff:         JK, PE, WM