Honorable Bill Callegari, Chair, House Committee on Pensions
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB413 by Turner, Chris (Relating to the retirement benefits for elected state officials.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to prevent members of the elected class from transferring elected class service to the employee class to receive employee class retirement benefits until the member is no longer in office. The bill would not restrict the ability of elected class members to retire and receive benefits as an employee-class member while in office, if they are eligible to retire with their employee class service. The Employees Retirement System indicates that the bill would lead to a decrease in costs to the system; however, this amount is not anticipated to be significant.
The bill would take effect immediately upon receiving a two-thirds vote; otherwise, it would take effect on September 1, 2013.
Local Government Impact
No fiscal implication to units of local government is anticipated.