Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB3340 by Metcalf (relating to the public retirement systems of certain municipalities.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
This bill would make changes to the governing statutes of the Houston Firefighters' Relief and Retirement Fund and the Houston Police Officer's Pension System. It is assumed any costs related to implementing the provisions of the bill could be absorbed using existing resources.
Local Government Impact
According to the Houston Firefighters' Relief and Retirement Fund, the changes made by implementing the provisions of the bill are not significant and would have no impact on the overall operations of the system.