TO: | 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 |
HB 3236 amends Section 814.1051 of Government Code, adding requirements for members of the Employees Retirement System (ERS) who retire under the provisions of this section and return to work. The bill requires that if such a member plans to return to work, the member must wait at least six months from the date on which the member’s retirement becomes effective and must agree to continue state employment for at least two years upon returning to work. A member who violates the provisions of the proposal would attend a hearing to determine whether the member must refund the lump sum payment to ERS. Section 814.1051 provides a one-time lump sum payment of 25% of the member's previous twelve month salary upon retirement, in the first month the member is eligible, between
The bill, if enacted, is not estimated to have a material actuarial impact.
Source Agencies: | 338 Pension Review Board
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LBB Staff: | JOB, WM
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