Bill Text: TX HB4025 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the state contributions to the Teacher Retirement System of Texas.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2019-03-21 - Referred to Pensions, Investments & Financial Services [HB4025 Detail]
Download: Texas-2019-HB4025-Introduced.html
86R13659 TSR-F | ||
By: Dominguez | H.B. No. 4025 |
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relating to the state contributions to the Teacher Retirement | ||
System of Texas. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 825.404, Government Code, is amended by | ||
amending Subsections (a) and (a-1) and adding Subsection (a-2) to | ||
read as follows: | ||
(a) Except as provided by Subsection (a-1) and subject to | ||
Subsection (a-2), during each fiscal year, the state shall | ||
contribute to the retirement system an amount equal to at least six | ||
and not more than 10 percent of the aggregate annual compensation of | ||
all members of the retirement system during that fiscal year. | ||
(a-1) In computing the amount owed by the state under this | ||
section [ |
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employed by public junior colleges or public junior college | ||
districts shall be included in the aggregate annual compensation as | ||
follows: | ||
(1) 50 percent of the eligible creditable compensation | ||
of employees who: | ||
(A) otherwise are eligible for membership in the | ||
retirement system; and | ||
(B) are instructional or administrative | ||
employees whose salaries may be fully paid from funds appropriated | ||
under the General Appropriations Act, regardless of whether such | ||
salaries are actually paid from appropriated funds; and | ||
(2) none of the eligible creditable compensation of | ||
all other employees who: | ||
(A) do not meet the requirements of Subdivision | ||
(1)(B) but are otherwise eligible for membership in the retirement | ||
system; or | ||
(B) cannot be included as a qualifying employee | ||
under Subdivision (1) by application of Subsection (b-1). | ||
(a-2) The state contribution required by Subsection (a) is: | ||
(1) for the fiscal year beginning on September 1, | ||
2019, seven percent of the aggregate annual compensation of all | ||
members of the retirement system during that fiscal year; | ||
(2) for the fiscal year beginning on September 1, | ||
2020, 7.2 percent of the aggregate annual compensation of all | ||
members of the retirement system during that fiscal year; | ||
(3) for the fiscal year beginning on September 1, | ||
2021, 7.4 percent of the aggregate annual compensation of all | ||
members of the retirement system during that fiscal year; | ||
(4) for the fiscal year beginning on September 1, | ||
2022, 7.6 percent of the aggregate annual compensation of all | ||
members of the retirement system during that fiscal year; | ||
(5) for the fiscal year beginning on September 1, | ||
2023, 7.8 percent of the aggregate annual compensation of all | ||
members of the retirement system during that fiscal year; and | ||
(6) for the fiscal year beginning on September 1, | ||
2024, and each subsequent fiscal year, eight percent of the | ||
aggregate annual compensation of all members of the retirement | ||
system during that fiscal year. | ||
SECTION 2. This Act takes effect September 1, 2019. |