Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB4641 by Bonnen (Relating to the resumption of service by certain judicial officers under the Judicial Retirement System of Texas Plan Two.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Government Code to require a member of Judicial Retirement System Plan 2 (JRS 2) who retires and then resumes service after the effective date of the legislation to resume the membership contributions that are set in statute.
If the retiree completes at least 24 months of resumed service, the retirement system would recompute the retiree's annuity based on the additional service credit and the highest salary earned. If the retiree completes less than 24 months of resumed service, the retirement system would resume the suspended annuity payments and refund the contributions made during the person's period of resumed service.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
212 Office of Court Administration, Texas Judicial Council, 304 Comptroller of Public Accounts, 327 Employees Retirement System