| TO: | Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services |
| FROM: | John S O'Brien, Director, Legislative Budget Board |
| IN RE: | HB1608 by Strama (Relating to participation in and contributions to the state employee charitable campaign by retired state employees), Committee Report 1st House, Substituted |
The bill would amend Government Code to allow retired state employees receiving retirement benefits from the Employees Retirement System (ERS) to participate on the state employee charitable campaign policy committee. The bill would also allow a person receiving an annuity from ERS to authorize ERS to deduct a contribution to the state employee charitable campaign from the person's monthly annuity payment. The bill would authorize the ERS Board of Trustees to adopt rules to implement these deductions.
The bill would authorize the state employee charitable campaign policy committee to approve a budget that includes funding for as many of the expenses incurred by the implementation and administration of the annuitants' participation in the state employee charitable campaign as practicable, and for those expenses not covered in the budget, the ERS Board of Trustees would be authorized to charge an administrative fee to cover those costs.
The bill would take effect on September 1, 2011, or immediately with two-thirds vote of all members of the Legislature.
| Source Agencies: | 327 Employees Retirement System, 304 Comptroller of Public Accounts
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| LBB Staff: | JOB, AG, MS, DEH
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