HB 232 provides an exemption to a surcharge which requires an employer to contribute to TRS on behalf of any employee who returns to work after retiring from TRS. The required contributions include the percentage of payroll that would be contributed by both the employer and employee to TRS and for TRS-Care. According to TRS, the pension trust fund collected approximately $6 million from the surcharge in fiscal year 2006. The provisions of the bill would exempt employees of institutions of higher education from the surcharge. TRS has further stated since the bill targets a small population, the total loss of the surcharge would not have a significant actuarial impact on the pension fund. The TRS-Care fund is not advance funded, so the only potential actuarial impact would be the fiscal impact described in the fiscal note.