TO: | Honorable Craig Eiland, Chair, House Committee on Pensions & Investments |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB1594 by McClendon (Relating to the composition of the board of trustees of the Employees Retirement System of Texas.), Committee Report 1st House, Substituted |
The bill would amend Section 815.003 of the Government Code by changing the composition of the board of trustees of the Employees Retirement System to add that two of the three elected trustees meet the employee class eligibility requirements. The bill would also add a new section that states one of the three trustees must be a retiree.
The bill would take effect September 1, 2005.
Source Agencies: | 327 Employees Retirement System
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LBB Staff: | JOB, SR, JW
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