Honorable Dan Flynn, Chair, House Committee on Pensions
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2434 by Flynn (Relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code relating to requiring certain public retirement systems to adopt a funding plan to achieve actuarial soundness.
The Texas Emergency Services Retirement System and the Pension Review Board assume any additional work associated with implementing the provisions of the bill could be absorbed using existing resources.
The bill would take effect on September 1, 2017.
Local Government Impact
According to the Texas Association of Counties, no significant fiscal impact is anticipated.
According to the Texas Municipal Retirement System, no fiscal impact is anticipated.