HB 3357, as amended by the 2^nd House, 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, participant records, and clarifying requirements relating to an employee of a charter holder to participate in Teacher Retirement System of Texas. 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 the bill does not adjust the plan's benefit structure, funding, or obligations.

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