Honorable Dan Flynn, Chair, House Committee on Pensions
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3897 by Kuempel (Relating to the administration of and benefits payable by the Teacher Retirement System of Texas.), As Introduced
The bill would amend the Government Code to make certain technical changes relating to the Internal Revenue Code provisions applicable to the Teacher Retirement System of Texas (TRS). Additionally, the bill would make certain administrative changes relating to non-qualified service credit, survivor's benefits, board of trustee's composition and investment consultations, and errors in finance and service credit. The bill would make other changes within the Insurance Code provisions applicable to TRS concerning healthcare. The bill would take effect on September 1, 2015.
The bill would not have an actuarial impact on TRS because it does not propose to change the benefit structure, funding or obligations of the system.