LEGISLATIVE BUDGET BOARD
Austin, Texas
 
ACTUARIAL IMPACT STATEMENT
 
80TH LEGISLATIVE REGULAR SESSION
 
March 14, 2007

TO:
Honorable Vicki Truitt, Chair, House Committee on Pensions & Investments
 
FROM:
John S. O'Brien, Director, Legislative Budget Board
 
IN RE:
HB1689 by Davis, Yvonne (Relating to the selection of certain members of the board of trustees of the Teacher Retirement System of Texas.), As Introduced

HB 1689 would provide for the governor to appoint three members of the board of trustees.  Members of the retirement system would elect three members of the board who must be members of the retirement system, with two currently employed by a public school district, and one employed by an institution of higher education.  Persons who have retired and are receiving benefits from the retirement system would elect one member of the board who must be a former member of the retirement system and receiving benefits from the retirement system.  The bill would also entitle an elected trustee to leave with pay from the trustee’s public school employer to attend to the official business of the retirement system.

 

The bill, if enacted, would have no material actuarial effect because it does not propose to change the funding or obligations of any public retirement system.



Source Agencies:
338 Pension Review Board
LBB Staff:
JOB, WM