| TO: | Honorable Craig Eiland, Chair, House Committee on Pensions & Investments |
| FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
| IN RE: | HB3200 by Madden (Relating to single employer benefit plans.), As Introduced |
HB 3200 establishes that a person is not receiving benefits under more than one public retirement system, if a single employer participates in a state wide public retirement system and also provides a supplemental retirement program uniformly available to all qualified employees or benefits established as a result of the employer’s withdrawal from the social security program.
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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