| TO: | Honorable Allan Ritter, Chair, House Committee on Pensions & Investments |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB2561 by Rose (Relating to the application of changes in benefits received by members and retirees of retirement systems for paid, partly paid, or volunteer firefighters), Committee Report 1st House, Substituted |
CSHB2561 amends Section 2 of the Texas Local Fire Fighters Retirement Act by adding definitions of "Accrued Benefit" and "Vested Accrued Benefit." The bill also clarifies a member's right to receive a vested accrued benefit. The bill, if enacted, is not anticipated to have a significant actuarial impact since the definitions may be viewed as clarifications of current statute.
| Source Agencies: | 338 Pension Review Board
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| LBB Staff: | JK, WM
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