LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              March 23, 2001
  
  
          TO:  Honorable Dale B. Tillery, Chair, House Committee on
               Pensions & Investments
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HB1428  by Longoria (Relating to the reestablishment of
               service credit in a public retirement system
               participating in the proportionate retirement program.),
               As Introduced
  
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*  No significant fiscal implication to the State is anticipated.        *
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Local Government Impact
  
This bill would allow members of any of the retirement systems that
participate in the Proportionate Retirement Program (PRP) to
re-establish service credit for previously canceled service in another
system covered by the PRP.  For most of the local systems that
participate in the PRP, the proposal will not have a material impact.
However, the proposal could result in additional costs for the El Paso
Firemen and Policemen's Pension System, which is underfunded, and add to
the existing shortfall for this fund.
  
  
Source Agencies:   327   Employees Retirement System, 323   Teacher
                   Retirement System
LBB Staff:         JK, RB, SC