Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB3375 by Davis (Relating to certain benefits payable by the public retirement systems for police and fire fighters in certain municipalities.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Vernon's Civil Statutes to make changes to the distribution of benefits for the Dallas Police & Fire Pension System (DPFPS). According to the actuarial impact statement prepared by the Pension Review Board, DPFPS is currently unsound, and under the bill, DPFPS would continue to be unsound, projecting to be fully funded by 2077.
Local Government Impact
The local impact of the bill cannot be determined.