BILL ANALYSIS

C.S.H.B. 2168

By: Muñoz, Jr.

Pensions

Committee Report (Substituted)

BACKGROUND AND PURPOSE

Interested parties note that retirement benefits paid by the Teacher Retirement System of Texas for a month that begins on a weekend or holiday are not generally due to be paid until after that weekend or holiday, which often results in retirees who depend on those benefits having to wait several more days to receive the benefits. C.S.H.B. 2168 seeks to allow retirees quicker access to those benefits under those circumstances. 

CRIMINAL JUSTICE IMPACT

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

ANALYSIS

C.S.H.B. 2168 amends the Government Code to change the day on which monthly annuity payments from the Teacher Retirement System of Texas are generally due to be paid from the first working day of each month following the month for which the payment accrues to the last working day of the month for which the payment accrues.

EFFECTIVE DATE

September 1, 2015.

COMPARISON OF ORIGINAL AND SUBSTITUTE

While C.S.H.B. 2168 may differ from the original in minor or nonsubstantive ways, the following comparison is organized and formatted in a manner that indicates the substantial differences between the introduced and committee substitute versions of the bill.

INTRODUCED	HOUSE COMMITTEE SUBSTITUTE
SECTION 1.  Section 824.003, Government Code, is amended to read as follows: Sec. 824.003.  WHEN BENEFITS ARE PAYABLE.  Except as otherwise provided by this chapter, an annuity provided by this chapter is payable for the month in which the person who receives the annuity dies. Monthly annuity payments are generally due to be paid on the first [working] day of each month following the month for which the payment accrues. If the first day of a month falls on a Sunday or a national holiday as described by Section 662.003(a), the annuity payments shall be paid on the last working day of the preceding month.	SECTION 1.  Section 824.003, Government Code, is amended to read as follows: Sec. 824.003.  WHEN BENEFITS ARE PAYABLE.  Except as otherwise provided by this chapter, an annuity provided by this chapter is payable for the month in which the person who receives the annuity dies. Monthly annuity payments are generally due to be paid on the last [first] working day of the [each] month [following the month] for which the payment accrues.
SECTION 2.  This Act takes effect September 1, 2015.	SECTION 2. Same as introduced version.