Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB766 by Kuempel (Relating to the restructuring of certain fund accounts of the Texas County and District Retirement System.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would amend the Government Code to restructure the fund obligations and accounts of the Texas County and District Retirement System (TCDRS). The bill would authorize TCDRS to hold certain monies in two separate funds, the "Closed Subdivision Annuity Reserve Fund" and the "Subdivision Accumulation Fund".
Local Government Impact
The Texas County and District Retirement System (TCDRS) reported there would no significant fiscal impact. According to TCDRS, the bill has no impact for participating subdivisions.