Texas HB4736 amends the Texas Emergency Services Retirement System to adjust state contributions and define terms related to actuarial soundness and.

Texas HB4736 amends the Texas Emergency Services Retirement System by adjusting state contributions to ensure the system remains actuarially sound. The bill specifies that the state must contribute enough to cover the pension system's unfunded actuarial accrued liability. It also defines terms such as "actuarially sound," "legacy liability," "liability loss layer," and "liability gain layer." The bill sets amortization periods for these layers and requires the pension system to provide specific information to the Legislative Budget Board.

Texas HB4736 amends the Texas Emergency Services Retirement System to adjust state contributions and define terms related to actuarial soundness and.

Texas HB4736 amends the Texas Emergency Services Retirement System by adjusting state contributions to ensure the system remains actuarially sound. The bill specifies that the state must contribute enough to cover the pension system's unfunded actuarial accrued liability. It also defines terms such as "actuarially sound," "legacy liability," "liability loss layer," and "liability gain layer." The bill sets amortization periods for these layers and requires the pension system to provide specific information to the Legislative Budget Board.