| 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: | HB953 by King, Ken (Relating to certain contributions by an open-enrollment charter school to the Teacher Retirement System of Texas.), As Introduced |
The bill would make an open-enrollment charter school pay into the Teacher Retirement System of Texas (TRS) the state's contribution on the portion of the salary that exceeds the applicable statutory minimum salary under the Education Code for certain members. The change would give charter schools the same responsibility as school districts currently have to cover this portion of the state's contribution to TRS.
The bill, if enacted, would not have a significant actuarial effect because it does not propose to change the funding or obligations of any public retirement system.
SOURCE:
Email correspondence from TRS Government Relations Staff on March 4, 2019.
| Source Agencies: | 338 Pension Review Board
|
| LBB Staff: | WP, AM, ASa
|