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Relating to certain benefits payable by the public retirement systems for police and fire fighters in certain municipalities.
No significant fiscal implication to the State is anticipated.
HB 3375 would allow Dallas police and firefighters who are receiving an annuity from an annuitized delayed retirement option (DROP) plan to obtain their benefits in a lump-sum in the vent of unforeseen financial hardship. The bill would also allow Dallas police and firefighters to assign distribution from their annuitized DROP account to a third party under certain circumstances.
Texas Action is neutral toward HB 3375.