TO: | Honorable Vicki Truitt, Chair, House Committee on Pensions & Investments |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB468 by Phillips (Relating to supplemental payments of a retirement or death benefit by the Teacher Retirement System of Texas; making an appropriation.), As Introduced |
Fiscal Year | Appropriation out of GENERAL REVENUE FUND 1 |
---|---|
2008 | $330,000,000 |
2009 | $350,000,000 |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2008 | ($330,000,000) |
2009 | ($350,000,000) |
2010 | $0 |
2011 | $0 |
2012 | $0 |
Fiscal Year | Probable Savings/(Cost) from GENERAL REVENUE FUND 1 |
---|---|
2008 | ($330,000,000) |
2009 | ($350,000,000) |
2010 | $0 |
2011 | $0 |
2012 | $0 |
The bill would direct the Teacher Retirement System (TRS) to make a supplemental payment of retirement or death benefits not to exceed $1,600 in January of each year of the 2008-2009 biennium, in addition to the regular monthly annuity payments to which an eligible annuitant or beneficiary is entitled.
The bill would make an estimated appropriation of general revenue to TRS for the purpose of funding the supplemental payments required by the bill in each year of the 2008-2009 biennium.
Source Agencies: | 323 Teacher Retirement System
|
LBB Staff: | JOB, KJG, UP, JSc
|