| TO: | Honorable Robert Duncan, Chair, Senate Committee on State Affairs |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | SB1812 by Duncan (Relating to state contributions for participation by certain junior college employees in the state employees group benefits program, Teacher Retirement System of Texas, and Optional Retirement System.), As Introduced |
SB 1812 would amend Chapter 825 of the Government Code relating to the estimation of the state's contribution to the Teacher Retirement System of Texas (TRS). The bill would require the TRS board of trustees to only include 50 percent of the costs associated with certain employees of public junior colleges when determining the estimate. The public junior colleges would be responsible for the remainder of the costs.
According to the TRS, these changes would have no cost or actuarial impact, because SB 1812 does not adjust the plan's benefit structure, funding, or obligations.
The proposed bill, if enacted, will not have an actuarial effect on retirement funds administered by TRS because it does not propose to change the benefit structure, funding or obligations of the public retirement system.
| Source Agencies: | 338 Pension Review Board
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| LBB Staff: | UP, WM
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