Honorable Dan Flynn, Chair, House Committee on Pensions
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3227 by Hernandez (Relating to the composition of the board of trustees of the Employees Retirement System of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to require that one of the elected members to the Employees Retirement System Board of Trustees be a retiree. ERS anticipates that any additional administrative costs associated with implementing the bill could be absorbed within existing resources.
The bill would take effect September 1, 2015 and would apply only to the election of a Board member that occurs on or after the effective date.
Local Government Impact
No fiscal implication to units of local government is anticipated.