Bill Text: TX HB4399 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the standard service retirement annuity for certain members of the elected class of the Employees Retirement System of Texas.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-03-25 - Referred to Pensions, Investments & Financial Services [HB4399 Detail]
Download: Texas-2019-HB4399-Introduced.html
86R5571 LED-D | ||
By: Cain | H.B. No. 4399 |
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relating to the standard service retirement annuity for certain | ||
members of the elected class of the Employees Retirement System of | ||
Texas. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 814.103, Government Code, is amended to | ||
read as follows: | ||
Sec. 814.103. SERVICE RETIREMENT BENEFITS FOR ELECTED CLASS | ||
SERVICE. (a) Except as provided by Subsections [ |
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and (c), the standard service retirement annuity for service | ||
credited in the elected class of membership is an amount equal to | ||
the number of years of service credit in that class, times two | ||
percent of the state salary, excluding longevity pay payable under | ||
Section 659.0445 and as adjusted from time to time, being paid a | ||
district judge. | ||
(b) The standard service retirement annuity for service | ||
credited in the elected class computed under Subsection (a) may not | ||
exceed at any time 100 percent of the state salary being paid a | ||
district judge. | ||
(c) The standard service retirement annuity for service | ||
credited in the elected class of membership all of which was earned | ||
as a member of the legislature is an amount equal to the number of | ||
years of service credit in that class, times two percent of the | ||
state salary being paid a member of the legislature under Section | ||
24, Article III, Texas Constitution. | ||
SECTION 2. The change in law made by this Act applies only | ||
to the standard service retirement annuity for a person who is first | ||
eligible to become a member of the elected class on or after | ||
September 1, 2019. A person who is first eligible to become a | ||
member of the elected class before the effective date of this Act is | ||
governed by the law in effect immediately before the effective date | ||
of this Act, and the former law is continued in effect for that | ||
purpose. | ||
SECTION 3. This Act takes effect September 1, 2019. |