| TO: | Honorable Robert Duncan, Chair, Senate Committee On State Affairs |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | SB200 by Patrick (Relating to the continuation and functions of the State Pension Review Board.), As Introduced |
SB 200 would continue the PRB for 12 years until September 1, 2025 and amend the Government Code, Chapters 801 (governing statute of the PRB) and 802 (administrative requirements for the public retirement systems).
The bill would amend Chapter 801 to provide flexibility to PRB’s educational training efforts by authorizing the board to use live webinars and other technologies to conduct training seminars. Chapter 801 would also be amended to include certain Texas Sunset Advisory Commission standard recommendations relating to conflict of interest and alternative dispute resolution provisions.
Additionally, the bill would amend Chapter 802 to update certain reporting requirements for retirement systems and exempt certain defined contribution and volunteer retirement systems organized under the Texas Local Fire Fighters Retirement Act.
The provisions of the bill would become effective September 1, 2013.
The bill, if enacted, will have no significant actuarial effect becasue it does not propose to change the benefit structure, funding, or obligations of any public retirement system.
| Source Agencies: | 338 Pension Review Board
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| LBB Staff: | UP, WM
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