HBA-GUM S.B. 1867 76(R)    BILL ANALYSIS


Office of House Bill AnalysisS.B. 1867
By: Moncrief
Pensions & Investments
5/10/1999
Engrossed



BACKGROUND AND PURPOSE 

Currently, appropriations for the State Pension Review Board (board) are
financed by general revenue and contributions to the State Pension Review
Board Fund.  These contributions are authorized by statute and are made
voluntarily by the many pension plan participants overseen by the board.
In the fiscal year 1998-1999 biennium, approximately $445,000 in general
revenue is appropriated to the board; the dedicated fund contributes
$120,000.  While the board plays a role in oversight of the Employees
Retirement System (ERS) and the Teacher Retirement System (TRS), neither
system makes a contribution to the board for its services.  S.B. 1867
requires TRS and ERS each to make an annual contribution of $100,000 to the
State Pension Review Board.  

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 801.113, Government Code, by adding Subsection
(g), to require the Teacher Retirement System and the Employees Retirement
System each to make an annual contribution of $100,000 to the State Pension
Review Board (board) for services performed by the board for the systems,
notwithstanding Subsection (c) (relating to an annual contribution to the
state Pension Review Board by a board of a public retirement system).
Provides that the contributions are payable in a lump sum or in
installments as provided by the respective retirement systems. Requires the
contributions to be deposited to the credit of the board fund.  

SECTION 2.  Effective date: September 1, 1999.

SECTION 3.  Emergency clause.