TO: | Honorable Dan Flynn, Chair, House Committee on Pensions |
FROM: | Ursula Parks, Director, Legislative Budget Board |
IN RE: | HB442 by Gonzales, Larry (Relating to assignment of certain death benefits payable by the Employees Retirement System of Texas.), As Introduced |
The bill would amend Chapter 814 of the Government Code, affecting death benefits paid after January 1, 2016 by the Employees Retirement System (ERS). It would allow a beneficiary receiving either the member or retiree death benefit payments to assign part or the entire amount to be paid directly to a funeral director or a licensed funeral establishment in lieu of their services provided in connection with the death of the member or retiree.
The bill, if enacted, would not have an actuarial effect on the retirement funds administered by ERS because it does not propose to change the benefit structure, funding or obligations of the public retirement system.
Source Agencies: | 338 Pension Review Board
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LBB Staff: | UP, EP, EMo
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