Honorable Joan Huffman, Chair, Senate Committee on Finance
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.), As Introduced
COST ESTIMATE
The bill would repeal Section 814.109 of the Texas Government Code that allows members of the Employees Retirement System (ERS) who are eligible toretire, have accrued enough service credit to receive the maximum permitted annuity, and are at least 60years old to retire and receive a retirement annuity without separating from service. It would only applyto members who retire on or after the bill's effective date, and any members who retired before the billtook effect would continue to be governed by Section 814.109 of the Texas Government Code as it existed atthe time.
According to ERS, the provisions in the bill would not have a material impact on the retirement system.