Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB3493 by Bonnen (Relating to the service retirement eligibility and benefits of certain members of the Employees Retirement System of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would repeal Section 814.109 of the Government Code which allows members of the Employees Retirement System to retire without separating from a position if the member is 60 years or older and has reached the maximum annuity permitted. No significant impact is expected from implementing the provisions of the bill.
Local Government Impact
No fiscal implication to units of local government is anticipated.