Honorable Bill Callegari, Chair, House Committee on Pensions
Ursula Parks, Director, Legislative Budget Board
HB1474 by McClendon (Relating to the selection of and requirements for serving as a member of the board of trustees of the Teacher Retirement System of Texas.), As Introduced
HB 1474 would amend Chapter 821 and 825 of the Government Code by changing the number of governor-appointed Teacher Retirement System board members from seven to three and allowing certain groups of TRS members to elect the remaining four members. The bill would also amend training requirements for TRS appointed and elected board members.
The act takes effect immediately with a two-thirds vote of all the members elected to each house, or if not, on September 1, 2013. It would not affect the appointment of members serving on the board before the effective date of the bill.
The proposed bill, if enacted, will not have an actuarial effect on the retirement funds administered by TRS because it does not propose to change the benefit structure, funding or obligations of the public retirement system.
338 Pension Review Board