Honorable Dan Flynn, Chair, House Committee on Pensions
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3573 by Alonzo (Relating to the composition of the board of trustees of the Employees Retirement System of Texas.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code require that no more than one of the three elected members to the 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.
Local Government Impact
No fiscal implication to units of local government is anticipated.