Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1939 by Huffman (Relating to contributions to, benefits from, and the administration of systems and programs administered by the Teacher Retirement System of Texas.), As Introduced
Senate Bill 1939 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 clarifying and administrative changes relating to the disclosure and audit of member records, errors in finance and service credit, post-retirement benefit options, transfer of assets, and terms of office for certain trustees under special circumstances. The bill would make other changes pertaining to the Education Code and Insurance Code provisions relating to TRS. This bill would take effect on September 1, 2015.
The bill would not have an actuarial effect on TRS because it does not propose to change the benefit structure, funding or obligations of the system.