80(R) HB 2341 - Introduced version - Actuarial Impact Statement

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions & Investments

FROM:	John S. O'Brien, Director, Legislative Budget Board

IN RE:	HB2341 by Truitt (Relating to certain investment products made available to certain public school employees.), As Introduced

HB 2341 would allow an educational institution to refuse to enter into a salary reduction agreement with an employee for an investment product if:

The eligible qualified product that is the subject of the salary reduction agreement is offered by a company that does not comply with the educational institution’s administrative requirements, and
The educational institution imposes the administrative requirements uniformly on all companies, and
The administrative requirements are necessary for federal compliance.

This act takes effect September 1, 2007.

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

LEGISLATIVE BUDGET BOARD
Austin, Texas

ACTUARIAL IMPACT STATEMENT

80TH LEGISLATIVE REGULAR SESSION


April 2, 2007