Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB4534 by Metcalf (Relating to death benefits provided under certain police officer retirement systems.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Vernon's Texas Civil Statutes as it relates to death benefits provided by the Austin Police Retirement System. Under the provisions of the bill, certain survivors of members who die in the line of duty would be entitled to a lump sum benefit of $1,000,000.
No significant impact to the state is anticipated from the provisions of the bill.
Local Government Impact
According to the Austin Police Retirement System (APRS), it is estimated that the direct cost to the system from the bill would be insignificant. According to APRS, the increase to the contribution rate paid by the City of Austin would be 0.16 percent.