TO:	Honorable Jeff Leach, Chair, House Committee on Judiciary & Civil Jurisprudence
FROM:	Jerry McGinty, Director, Legislative Budget Board
IN RE:	HJR107 by Price (Proposing a constitutional amendment to increase the mandatory age of retirement for state justices and judges.), As Introduced

COST ESTIMATE

The resolution would amend Section 1-a(1), Article V, of the Texas Constitution to increase the maximum retirement age of every justice and judge from 75 to 79 years of age and the minimum retirement age from 70 to 75 years of age.  The resolution would be submitted to voters at an election to be held on November 7, 2023.
 
According to the actuarial analysis from the Employees Retirement System (ERS), the provisions of the bill should not have an actuarial impact on ERS, Judicial Retirement System  - Plan One, nor Judicial Retirement System - Plan Two.
 
SOURCES
Actuarial Analysis by R. Ryan Falls, FSA, EA, MAAA, Gabriel, Roeder, Smith & Company, March 10, 2023.