Honorable Craig Eiland, Chair, House Committee on Pensions & Investments
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
HB70 by McClendon (Relating to the expedited payment of the lump-sum death benefit for members of the Employees Retirement System of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to require the Employees Retirement System of Texas to provide payment of the lump-sum death benefit not later than the seventh day after the date the board receives the required proof of death. The bill would take effect immediately upon receiving a two-thirds majority vote in both houses; otherwise, the bill would take effect September 1, 2005.
Local Government Impact
No fiscal implication to units of local government is anticipated.