Bill Text: TX HJR148 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Proposing a constitutional amendment authorizing the legislature to make certain appropriations to the Employees Retirement System of Texas and the Teacher Retirement System of Texas.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2021-03-29 - Referred to Appropriations [HJR148 Detail]
Download: Texas-2021-HJR148-Introduced.html
| 87R9095 JCG-F | ||
| By: Bonnen | H.J.R. No. 148 | |
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| proposing a constitutional amendment authorizing the legislature | ||
| to make certain appropriations to the Employees Retirement System | ||
| of Texas and the Teacher Retirement System of Texas. | ||
| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 67(b)(3), Article XVI, Texas | ||
| Constitution, is amended to read as follows: | ||
| (3) The amount contributed by a person participating | ||
| in the Employees Retirement System of Texas or the Teacher | ||
| Retirement System of Texas shall be established by the legislature | ||
| but may not be less than six percent of current compensation. The | ||
| amount contributed by the state may not be less than six percent nor | ||
| more than 10 percent of the aggregate compensation paid to | ||
| individuals participating in the system. The legislature may | ||
| appropriate sums in excess of 10 percent of the aggregate | ||
| compensation paid to individuals participating in the system for | ||
| the purpose of reducing the unfunded liability of the Employees | ||
| Retirement System of Texas or the Teacher Retirement System of | ||
| Texas. In an emergency, as determined by the governor, the | ||
| legislature may appropriate such additional sums as are actuarially | ||
| determined to be required to fund benefits authorized by law. | ||
| SECTION 2. This proposed constitutional amendment shall be | ||
| submitted to the voters at an election to be held November 2, 2021. | ||
| The ballot shall be printed to permit voting for or against the | ||
| proposition: "The constitutional amendment permitting the | ||
| legislature to make appropriations to certain state retirement | ||
| systems to reduce the unfunded liability of the systems." | ||
