TO:	Honorable Stan Lambert, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	Jerry McGinty, Director, Legislative Budget Board
IN RE:	HB3161 by Villalobos (Relating to member contributions to the Texas Municipal Retirement System.), As Introduced

SYNOPSIS OF PROVISIONS AND ACTUARIAL EFFECTS

The bill would allow cities participating in the Texas Municipal Retirement System (TMRS) to elect an eight percent member contribution rate. The current options available to cities are five, six, or seven percent.
 
According to the actuarial analysis, because the funding requirements and cost impact are the responsibility of each participating municipality, the bill would not have an impact on the liabilities of TMRS.
 
 
SOURCES
Actuarial Analysis by Joe Newton, FSA, EA, MAAA, and Janie Shaw, MAAA, ASA, EA, Gabriel, Roeder, Smith and Company, April 7, 2025.