LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session February 26, 2001 TO: Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations FROM: John Keel, Director, Legislative Budget Board IN RE: SB523 by Armbrister (Relating to participation and credit in, contributions to, and benefits and administration of the Texas County and District Retirement System.), As Introduced ************************************************************************** * No fiscal implication to the State is anticipated. * ************************************************************************** Local Government Impact The bill would affect the benefits payable by the Texas County and District Retirement System (TCDRS), as well as make updates for administrative simplifications in response to changes in federal law. Most of the changes would be voluntary and only affect participating counties and districts if they were to choose to adopt those provisions in their benefits. Other provisions of the bill would have no actuarial impact on the fund and no cost to the subdivisions. The one provision that would result in increased costs is the proposed increase in the supplemental death benefit for retirees from $2,500 to $5,000. This benefit change would increase the contribution rates to TCDRS by various subdivisions by approximately 0.2 percent of pay, though some would be faced with a slightly higher percentage. Source Agencies: LBB Staff: JK, DB, WM