Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1664 by Huffman (Relating to contributions to, benefits from, membership in, and the administration of systems and programs administered by the Teacher Retirement System of Texas.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Education Code and Government Code related to contributions, benefits, membership, and administration of Teacher Retirement System (TRS) programs, and transfers certain responsibilities relating to the Optional Retirement Program from TRS to the Higher Education Coordinating Board. It is assumed that all duties and responsibilities necessary to implement the provisions of the bill could be accomplished utilizing existing staff and resources, based on information provided by the Teacher Retirement System, the Comptroller of Public Accounts, and the Texas Higher Education Coordinating Board.
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, 781 Higher Education Coordinating Board