Honorable Craig Eiland, Chair, House Committee on Pensions & Investments
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
HB3236 by Uresti (Relating to certain members of the Employees Retirement System of Texas who retire and return to state employment.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the lump-sum incentive for Employees Retirement System (ERS) retirees so that a retiree who receives the incentive may not return to work as a state employee until six months after retirement and must agree to continue state employment for at least two years. This change would only apply to those who retire with the lump-sum incentive on or after the effective date of the bill, which is September 1, 2005, or immediately upon two-thirds vote by each house. If the bill does not receive two-thirds vote from each house, the bill would not have an effect because the lump-sum retirement incentive ends on August 31, 2005. If the bill obtains a two-thirds vote from each house, then it would only apply to those who retired on or after that date.
Local Government Impact
No fiscal implication to units of local government is anticipated.