Honorable Joan Huffman, Chair, Senate Committee on Finance
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB729 by Huffman (Relating to the cash balance benefit under the Employees Retirement System of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would make changes associated with the cash balance benefit for individuals hired into state service on or after September 1, 2022. It is assumed that any related costs would be insignificant.
Local Government Impact
No fiscal implication to units of local government is anticipated.