Honorable Craig Eiland, Chair, House Committee on Pensions & Investments
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 system.), As Introduced
No significant fiscal implication to the State is anticipated.
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 take effect September 1, 2005.
Local Government Impact
The bill would allow institutions of higher education to contribute to the optional retirement system (ORP) on behalf of employees who retire and subsequently return to work in positions that are eligible for participation in ORP. As such, there may be a local impact to the degree institutions elect to make such contributions.