Honorable J. M. Lozano, Chair, House Committee on Higher Education
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3267 by Lozano (Relating to participation in and contributions to the optional retirement program for certain employees of institutions of higher education.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code relating to participation in and contributions to the Optional Retirement Program (ORP) for certain employees of institutions of higher education. The provisions of the bill would clarify statute regarding selection of and enrollment in ORP, would allow additional time for selection of ORP in the event eligible employees are not properly notified, and would implement measures to correct errors related to enrollment in ORP and TRS.
Based on information provided by the Teacher Retirement System and the Comptroller of Public Accounts, it is assumed that all duties and responsibilities associated with the provisions of the bill could be accomplished utilizing existing staff and resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 323 Teacher Retirement System