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  87R24189 KFF-D
 
  By: Stephenson H.B. No. 4643
 
  Substitute the following for H.B. No. 4643:
 
  By:  Rogers C.S.H.B. No. 4643
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to a study by the comptroller to implement a pilot program
  that establishes a pension revenue enhancement plan for the
  Employees Retirement System of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  INTERIM STUDY ON PENSION REVENUE ENHANCEMENT
  PLAN. The comptroller of public accounts, in consultation with the
  board of trustees of the Employees Retirement System of Texas, the
  Texas Department of Insurance, and any other agency or person the
  comptroller determines appropriate, shall conduct a study
  regarding the feasibility and anticipated financial impact of
  implementing a pilot program to establish a pension revenue
  enhancement plan that is the same as or similar to the pilot program
  proposed in the introduced version of H.B. No. 4643, Acts of the
  87th Legislature, Regular Session, 2021.  In conducting the study,
  the comptroller may only consider implementation under the pilot
  program of a pension revenue enhancement plan that is designed to be
  mortality neutral.
         SECTION 2.  FINDINGS AND RECOMMENDATIONS. Not later than
  September 1, 2022, the comptroller of public accounts shall report
  the comptroller's findings and recommendations to the governor, the
  lieutenant governor, the speaker of the house of representatives,
  and each member of the legislature. If the comptroller recommends
  implementation of the pilot program, the comptroller shall include
  in the recommendations specific statutory and regulatory changes
  that the comptroller determines necessary or appropriate to
  implement the recommendations, including, if appropriate,
  recommendations for changes to the legislation referenced in
  Section 1 of this Act.
         SECTION 3.  EXPIRATION OF ACT. This Act expires September
  15, 2022.
         SECTION 4.  EFFECTIVE DATE.  This Act takes effect
  immediately if it receives a vote of two-thirds of all the members
  elected to each house, as provided by Section 39, Article III, Texas
  Constitution.  If this Act does not receive the vote necessary for
  immediate effect, this Act takes effect September 1, 2021.