LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session March 11, 2001 TO: Honorable Dale B. Tillery, Chair, House Committee on Pensions & Investments FROM: John Keel, Director, Legislative Budget Board IN RE: HB2396 by Chavez (Relating to eligibility for retirement and benefits from the Texas County and District Retirement System.), As Introduced ************************************************************************** * No fiscal implication to the State is anticipated. * ************************************************************************** Local Government Impact No significant fiscal implication to units of local government is anticipated. The bill would permit participating subdivisions the option of choosing an option where retirement eligibility would occur at any age after 20 years of service. Currently retirement can occur at any age with 30 years of service. There are some other retirement eligibility options the subdivisions can choose from, such as age plus service equals 75, or 80. The system prepared an analysis which shows the effect on four of the participating counties. If these counties chose to adopt this provision, their required increase in payroll contributions would range from a 0.23% increase to a 0.54% increase; of the four only Harris county would face increased costs of more than 0.3% of payroll. Only counties which choose to adopt this option would face any increased costs. Source Agencies: LBB Staff: JK, RB, WM