LEGISLATIVE BUDGET BOARD
Austin, Texas
 
ACTUARIAL IMPACT STATEMENT

88TH LEGISLATIVE REGULAR SESSION
 
April 21, 2023

TO:
Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
 
FROM:
Jerry McGinty, Director, Legislative Budget Board
 
IN RE:
HB4141 by Guillen (relating to a study conducted by the Teacher Retirement System of Texas on the feasibility of offering alternative service retirement benefits to peace officers who are members of the retirement system.), Committee Report 1st House, Substituted


COST ESTIMATE
The bill would authorize a study and report on an alternative service retirement benefit for peace officers. The Teachers Retirement System of Texas (TRS) would conduct a study on the feasibility and cost of offering peace officer members additional benefits outlined in the bill.
 
According to TRS, the bill should not have an actuarial impact on the system.
 
This bill would take effect immediately if it received a two-thirds vote of each house, otherwise it would take effect September 1, 2023.
 
SOURCES:
TRS Email correspondence 4/20/2023



Source Agencies:
338 Pension Review Board
LBB Staff:
JMc, MOc, ASA, MMo