HB 99 would amend the Government Code, Section 825.404 by requiring the state's contribution percentage to be at least equal to the amount of the federal Old-Age, Survivors, and Disability Insurance (OASDI) tax rate, as long as the OASDI tax rate is at least 6 and not more than 10 percent.

Currently, the Texas Constitution, Article 16, Section 67, sets a floor on the state's contribution equal to 6 percent. HB 99 would effectively increase the floor to 6.2 percent,which is the current OASDI tax rate. According to the Teacher Retirement System, HB 99 would have no significant actuarial effect on the plan because the floor of 6.2 percent is less than the current state contribution rate of 6.4 percent. The effect could be greater if the OASDI tax rate is increased.

The bill, if enacted, will have no significant actuarial effect because it does not propose to change the funding or obligations of any public retirement system.