Bill
HB 1416
85(R) - 2017
House Pensions
House Pensions
Life & Annuities Insurance
Retirement systems
Vote Recommendation
Neutral
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Neutral
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Neutral
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Neutral
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Neutral
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Neutral
Author(s)
Phil Stephenson
Bill Caption
Relating to authorizing public retirement systems to study the cost-effectiveness and feasibility of implementing certain pension revenue enhancement strategies.
Fiscal Notes
No significant fiscal implication to the State is anticipated.
Bill Analysis
HB 1416 would allow the governing body of a public retirement system to conduct a study to evaluate the cost-effectiveness and feasibility of implementing fund-creation strategies. A written report of this study shall be submitted to the legislature and the related committees, and this act will expire on December 31, 2018.
Vote Recommendation Notes
Numerous public pensions in Texas are in trouble and face serious sustainability problems due to being defined benefit programs that are underfunded and overgenerous. This study does not affect our principles and we remain neutral, however we recommend any study designed to shore up public pensions include transition to a defined contribution plan for newly enrolled members as part of the study.
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