Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB1509 by Huffman (relating to the service retirement eligibility and benefits of certain members of the Employees Retirement System of Texas.), Committee Report 2nd House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend section 814.103 of the Government Code regarding the annuity for certain members of the Employees Retirement System (ERS) to remove reference to the base salary of a district judge as adjusted from time to time. The bill would also repeal Section 814.109 of the Government Code which allows certain members of ERS to retire without separating from a position if the member is 60 years or older and has reached the maximum annuity permitted. According to ERS, no significant impact is anticipated from implementing the provisions of the bill.
Local Government Impact
No fiscal implication to units of local government is anticipated.