LEGISLATIVE BUDGET BOARD
Austin, Texas
 
ACTUARIAL IMPACT STATEMENT
 
81ST LEGISLATIVE REGULAR SESSION
 
April 17, 2009

TO:
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
 
FROM:
John S. O'Brien, Director, Legislative Budget Board
 
IN RE:
HB3480 by Truitt (relating to certain investment products made available to certain public school employees and the companies authorized to provide those products; providing civil penalties. ), Committee Report 1st House, Substituted

The following new information was supplied by agency 338 PENSION REVIEW BOARD:

In response to your request for an Actuarial Impact Statement on CSHB 3480 (relating to certain investment products made available to certain public school employees and the companies authorized to provide those products; providing civil penalties) the Pension Review Board has determined the following:

 

CSHB 3480 would add provisions to the requirements for companies offering contracts under the

403(b) tax sheltered annuity program overseen by TRS.  The provisions of the bill would take effect September 1, 2009.

 

The bill, if enacted, will not have a significant 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, JRO