CS HB 3357 would make administrative changes to the governing statute of the Teacher Retirement System of Texas by amending provisions relating to post retirement optional benefit payments, board appointees, acceptance of gifts by the board, closed meetings, and participant records. Additionally, it would remove provisions relating to the state directly appropriating administrative costs for the fund. According to the Teacher Retirement System, these changes would have no actuarial impact, because CS HB 3357 does not adjust the plan's benefit structure, funding, or obligations.

The bill, if enacted, will not have an actuarial effect on any public retirement system because it does not propose to change their benefit structure, funding or obligations.