Honorable Dan Flynn, Chair, House Committee on Pensions
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2572 by Turner, Sylvester (Relating to the firefighters relief and retirement fund in certain municipalities.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Revised Statutes relating to the firefighters relief and retirement fund in certain municipalities. The bill would require an amount equal to a DROP participant's unused leave pay, upon separation from service, to be credited to the DROP participant's DROP account. The bill would require each DROP participant to make contributions to the fund in an amount equal to the DROP participant's unused leave pay amounts. The bill provides a schedule of implementation for the provisions of the bill.
Local Government Impact
The City of Houston reported an estimated savings of $20.5 to $25.7 million in Fiscal Year (FY) 2016 to FY 2018.