TO: | Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | SB1658 by Madla (Relating to the administration of retirement systems for paid, partly paid, or volunteer fire fighters.), As Introduced |
HB2561 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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