LEGISLATIVE BUDGET BOARD
Austin, Texas
 
ACTUARIAL IMPACT STATEMENT
 
78TH LEGISLATIVE REGULAR SESSION
 
March 30, 2003

TO:
Honorable Allan Ritter, Chair, House Committee on Pensions & Investments
 
FROM:
John Keel, Director, Legislative Budget Board
 
IN RE:
HB2445 by Hochberg (Relating to contributions by a school district and certain charter schools to the Teacher Retirement System of Texas.), As Introduced


HB2445 provides that schools that have been granted a charter under Subchapter D, Chapter 12 of the Education Code shall contribute to the retirement system based upon the aggregate annual compensation of all members of the retirement system who are employed by the employer during that school year. The bill, if enacted, will have no actuarial effect because it does not propose to change the overall funding or obligations of any public retirement system. It only specifies the source of a portion of the funds that go into the pension fund, which would still receive a full employer contribution on salaries, currently 6%.



Source Agencies:
338 Pension Review Board
LBB Staff:
JK, WM