LEGISLATIVE BUDGET BOARD
Austin, Texas
 
ACTUARIAL IMPACT STATEMENT
 
80TH LEGISLATIVE REGULAR SESSION
 
April 11, 2007

TO:
Honorable Vicki Truitt, Chair, House Committee on Pensions & Investments
 
FROM:
John S. O'Brien, Director, Legislative Budget Board
 
IN RE:
HB2358 by Otto (Relating to the deposit of certain employer contributions to the Teacher Retirement System of Texas.), As Introduced

 

HB 2358 stipulates that when an employer receives money for state contributions from a federal agency or private source, the employer shall immediately send the money to TRS for deposit in the state contribution account. Current practice has TRS place those amounts in the General Revenue Fund, with sufficient General Revenue appropriated to TRS to be placed in the trust fund to cover these amounts. 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.



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