Honorable Jim Murphy, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB2227 by Wu (relating to preventing the loss of benefits by certain retirees of the Teacher Retirement System of Texas who resume service.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to allow a retiree member of the Teacher Retirement System (TRS) whose effective date of retirement is on or before August 31, 2018 to return to work without limitation. This analysis assumes that the provisions of the bill could be absorbed by TRS using existing resources. However, to the extent that the exemption were extended to additional retirees in future years, it could create additional costs for the TRS pension trust fund and result in a need for increased contributions from the state, employers, and/or employees.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.