Bill Text: TX HB3588 | 2017-2018 | 85th Legislature | Introduced

Texas House Bill 3588 (Prior Session Legislation)

Introduced

Bill Title: Relating to annuities of certain annuitants of the Judicial Retirement System Plan Two.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2017-04-17 - Left pending in committee [HB3588 Detail]

Download: Texas-2017-HB3588-Introduced.html



	By: Longoria	H.B. No. 3588



	A BILL TO BE ENTITLED
	AN ACT
	relating to annuities of certain annuitants of the Judicial
	Retirement System Plan Two.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 839.102(a), Government Code, as amended
	by Acts 2005, 79th Leg., R.S., Ch. 1033 (H.B. 1114), Sec. 6, is
	amended to read as follows:
	(a) Except as provided by Subsections (b), (c), [~~and~~] (d),
	(f), and (g), the standard service retirement annuity is an amount
	equal to 50 percent of the state salary being paid at the time the
	member retires to a judge of a court of the same classification as
	the last court to which the retiring member was elected or
	appointed.
	SECTION 2. Section 839.102, Government Code, is amended by
	adding Subsection (g) to read as follows.
	(g) A person earning a service retirement annuity based on
	the state salary being paid at the time the member retired is
	entitled to have the person’s annuity recalculated based on the
	state salary, as it existed on January 1, 2017, being paid to a
	judge of a court of the same classification as the last court to
	which the retiring member was elected or appointed. After including
	any increase under this subsection, the recalculated service
	retirement annuity may not be an amount that is greater than 90
	percent of that state salary being paid on January 1, 2017. An
	annuitant is only entitled to an adjustment under this subsection
	on a finding by the board of trustees that, as determined by an
	actuarial valuation:
	(1) the amortization period for the unfunded actuarial
	liabilities of the retirement system does not exceed 30 years by one
	or more years; and
	(2) as a result of paying the adjustment, the time
	required to amortize the unfunded actuarial liabilities of the
	retirement system would not be increased to a period that exceeds 30
	years by one or more years.
	SECTION 3. Section 839.102(a), Government Code, as amended
	by Acts 2005, 79th Leg.,
	R.S., Ch. 1203 (H.B. 617), Sec. 3, is
	repealed.
	SECTION 4. This Act takes effect September 1, 2017.