| TO: | Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services |
| FROM: | John S O'Brien, Director, Legislative Budget Board |
| IN RE: | HB551 by Christian (Relating to the eligibility of members of the State Board of Education to participate in a state employees group benefits program.), As Introduced |
The bill would amend Insurance Code, Section 1551.101 to make members of the State Board of Education eligible to participate in the Employees Retirement System's Group Benefits Program (GBP).
It is assumed that the contributions would be paid for by the estimated 15 new members to the GBP. It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources.
The bill would take effect September 1, 2011.
| Source Agencies: | 327 Employees Retirement System
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| LBB Staff: | JOB, AG, MS, DEH
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