Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB3254 by Burns (Relating to the purchase of service credit by certain members of the Employees Retirement System of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to allow certain members of the Employees Retirement System (ERS) to establish service credit for each month of any 90-day waiting period in which the member performed service. ERS would be required to compute the service purchase in a manner that would not result in an actuarial loss to the system. According the ERS, the bill would not have a material impact on the system.
Local Government Impact
No fiscal implication to units of local government is anticipated.