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.), As Introduced
No significant fiscal implication to the State is anticipated.
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.
Local Government Impact
No fiscal implication to units of local government is anticipated.