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No significant fiscal implication to the State is anticipated. The Employee Retirement System indicates that the bill would lead to a decrease in costs to the system; however, this amount is not anticipated to be significant.
No fiscal implication to units of local government is anticipated.
This bill is substantively the same as when we reported on it in its original chamber. We continue to support HB 408. The second chamber sponsor is Representative Menendez.
First chamber recommendation:
The bill is designed to prevent elected officials from double-dipping when receiving their service retirement annuities. We support HB 408 because it fosters accountability which promotes our personal responsibility and limited government principles.