TO: | Honorable Robert Duncan, Chair, Senate Committee on State Affairs |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB3200 by Madden (Relating to single employer benefit plans.), As Engrossed |
A provision in the Texas Constitution prohibits public employees from receiving benefits from more than one public retirement system for the same service. The bill would establish in Government Code that an employer who participates in the Texas County and District Retirement System or the Texas Municipal Retirement System could offer a supplemental retirement program established before January 1, 2005.
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.
Source Agencies: |
LBB Staff: | JOB, SR, WM, WP, DLBa
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