The House Committee on Pensions, Investments & Financial Services

82nd Legislature

September 13, 2012

9:30 a.m.

E2.010

Pursuant to a notice posted on August 6, 2012, the House Committee on Pensions, Investments & Financial Services met in a public hearing and was called to order by the chair, Representative Truitt, at 9:32 a.m.

The initial quorum call was answered as follows: Representatives Truitt; Creighton; Hernandez Luna; Legler; Nash; and Orr.

A quorum was present.

(Representative Anchia now present.)

The Chair laid out Interim Charge #5:

Monitor all agencies and programs under the committee’s jurisdiction. Specifically, monitor the study by the Employees Retirement System of Texas and the Teacher Retirement System of Texas of the viability of the current defined benefit plans as well as the implications and feasibility of creating a defined contribution or hybrid plan;

and Interim Charge #4:

Review the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on Texas industries, with particular attention to any federal preemption issues that exist. Make appropriate legislative recommendations.

(Representative Veasey now present.)

Testimony taken/registration recorded.  (See attached witness list.)

At 12:54 p.m., on the motion of Representative Truitt and without objection, the meeting was recessed until 1:30 a.m., September 13, 2012.

The committee reconvened at 1:50 p.m. and was called to order by the chair, Representative Truitt.

The quorum call was answered as follows: Representatives Truitt; Anchia; Legler; Nash; Orr; and Veasey.

A quorum was present.

The Chair laid out Interim Charge #3:

Monitor the implementation of HB 2592 (82R) and HB 2594 (82R), regarding pay day lending.

Testimony taken/registration recorded.  (See attached witness list.)

At 3:51 p.m., on the motion of Representative Orr and without objection, the meeting was adjourned subject to the call of the chair.

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Rep. Truitt, Chair

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Merita Zoga, Clerk