TO: | Honorable Robert Duncan, Chair, Senate Committee on State Affairs |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB3125 by Eiland (Relating to a retired employee's eligibility for participation in the optional retirement program and the regulation of investment advisors in that program.), As Engrossed |
The bill would amend the Government Code as it relates to a retired employee's eligibility for participation in the optional retirement system. The bill would also place limitations on the payments of fees to investment advisors for participants of the Optional Retirement Program. Advisors would have to be registered with a currently authorized vendor, and institutions of higher education could determine their own policies and procedures that advisors must follow.
The bill would take effect September 1, 2005.
Source Agencies: | 323 Teacher Retirement System, 781 Higher Education Coordinating Board
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LBB Staff: | JOB, SR, RT, JAW
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