Supplement: TX HB4653 | 2023-2024 | 88th Legislature | Fiscal Note (House Committee Report)
For additional supplements on Texas HB4653 please see the Bill Drafting List
Bill Title: Relating to participation in a deferred retirement option plan by members of the retirement systems for police and fire fighters in certain municipalities.
Status: 2023-05-09 - Referred to Finance [HB4653 Detail]
Download: Texas-2023-HB4653-Fiscal_Note_House_Committee_Report_.html
Bill Title: Relating to participation in a deferred retirement option plan by members of the retirement systems for police and fire fighters in certain municipalities.
Status: 2023-05-09 - Referred to Finance [HB4653 Detail]
Download: Texas-2023-HB4653-Fiscal_Note_House_Committee_Report_.html
TO: |
Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services |
FROM: |
Jerry McGinty, Director, Legislative Budget Board
|
IN RE: |
HB4653 by AnchÃa (relating to participation in a deferred retirement option plan by members of the retirement systems for police and fire fighters in certain municipalities.), Committee Report 1st House, Substituted |
No significant fiscal implication to the State is anticipated.
The bill would amend Vernon's Civil Statutes to modify the deferred retirement option plan (DROP) offered to members of the Dallas Police and Fire Pension System (DPFP). Under the provisions of the bill, the maximum number of years a member could participate in the DROP program would increase from 10 to 20 years. No significant impact to the state is anticipated from implementing the provisions of the bill.
Local Government Impact
According to the Dallas Police and Fire Pension System, extending the time a DROP account can be credited for a member from 10 to 20 years would increase the total liability of the pension system by two million dollars or 0.039 percent.
Source Agencies: b > td > |
LBB Staff: b > td > | JMc, MOc, LCO, JPO |