Honorable Talmadge Heflin, Chair, House Committee on Appropriations
John Keel, Director, Legislative Budget Board
HB3459 by Pitts (Relating to fiscal matters involving certain governmental educational entities, including program compliance monitoring by the Texas Education Agency, funding for regional education service centers, amounts withheld from compensatory education allotments, the public school technology allotment, state aid for certain courses taken in public schools, colleges, and universities, the accounting for the permanent school fund, funding for the higher education fund health insurance coverage provided by the Teacher Retirement System of Texas, and the uses of the Telecommunications Infrastructure Fund. ), Committee Report 1st House, Substituted
Among other provisions affecting funding of the Teacher Retirement System retiree insurance fund, CSHB3459 changes the active state employee contribution to the fund from 0.25% to 0.50% percent of the employee's salary beginning September 1, 2003, and to 0.75% beginning September 1, 2004. The bill, if enacted, will have no actuarial effect because it does not propose to change the funding or obligations of any public retirement system.
338 Pension Review Board