| 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 |
HB 3200 as engrossed establishes that a person is not receiving benefits under more than one public retirement system, if a single employer participates in the Texas Municipal Retirement System (TMRS) or the Texas County and District Retirement System (TCDRS) and provides a supplemental retirement program which was established before January 1, 2005, and the combined benefits paid are in compliance with Section 415, Internal Revenue Code of 1986.
The bill, if enacted, will have no significant actuarial effect because it does not propose to change the funding or obligations of any public retirement system.
| Source Agencies: | 338 Pension Review Board
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| LBB Staff: | JOB, WM
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