LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 86TH LEGISLATIVE REGULAR SESSION
 
April 18, 2019

TO:
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:
SB1337 by Huffman (relating to credit in, benefits from, and administration of the Texas Municipal Retirement System.), Committee Report 2nd House, Substituted

No significant fiscal implication to the State is anticipated.

The bill would amend the Government Code to modify certain provisions relating to the operation and management of the Texas Municipal Retirement System (TMRS). Other provisions of the bill would modify certain calculations concerning prior service credit.

According to TMRS, while there would be initial system costs for implementing provisions of the bill, offsetting savings due to efficiencies allowed under provisions of the bill would result in net savings over a five year period.

Local Government Impact

According to TMRS, the bill would not result in any direct cost incurred by each city participating in TMRS. Any impact would occur at the System level, and individual cities, members, and retirees would only have to be educated on any system modifications.


Source Agencies:
LBB Staff:
WP, CMa, GP, SD, KFB