Honorable Rafael Anchia, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB1372 by Huffman (relating to the evaluation and reporting of the performance of certain public retirement systems.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to change the evaluation and reporting requirements of certain public retirement systems. The bill would also require the Pension Review Board (PRB) to establish a grading program under which the board would evaluate certain public retirement systems. According to PRB, the Employees Retirement System, and the Teacher Retirement System, no significant fiscal impact to the state is anticipated from the provisions of the bill. The Texas Emergency Services Retirement system indicates there would be a cost to implementing the provisions of the bill; it is assumed those costs could be absorbed by the agency.
Local Government Impact
According to the Texas Association of Counties, no fiscal impact to counties is anticipated.
The Texas Municipal Retirement System (TMRS) does not anticipate a fiscal impact to the system nor TMRS participating cities.
The Texas Municipal League does not anticipate a fiscal impact to municipalities.