Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB685 by Seliger (Relating to the standard service retirement annuity for certain members of the elected class of the Employees Retirement System of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Government Code regarding how retirement annuities are calculated for certain members of the Employees Retirement System of Texas. Under provisions of the bill, the standard service retirement annuity for members of the elected class would be equal to the number of years of service credit in the elected class times two percent of the August 31, 2017 salary of a district judge.
The Employees Retirement System indicates that the bill would have no significant fiscal impact.
The bill would take effect September 1, 2017, and would only apply to the annuity of a person who retires on or after that date.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.