Bill Text: TX SB531 | 2023-2024 | 88th Legislature | Introduced


Bill Title: Relating to the standard service and disability retirement benefits for members of the employee class of the Employees Retirement System of Texas.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2023-02-28 - Co-author authorized [SB531 Detail]

Download: Texas-2023-SB531-Introduced.html
  88R1015 BDP-D
 
  By: West S.B. No. 531
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the standard service and disability retirement benefits
  for members of the employee class of the Employees Retirement
  System of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 814.105(a), Government Code, is amended
  to read as follows:
         (a)  The standard service retirement annuity for service
  credited in the employee class of membership is an amount computed
  as the member's average monthly compensation for service in that
  class for the 60 highest months of compensation multiplied by 2.7
  [2.3] percent for each year of service credit in that class.
         SECTION 2.  Section 814.206(a), Government Code, is amended
  to read as follows:
         (a)  Except as provided by Subsection (b) and Section
  814.207, a standard disability retirement annuity for service
  credited in the employee class of membership is an amount computed
  at the rate of 2.7 [2.3] percent for each year of service credit in
  that class, times the member's average monthly compensation.
         SECTION 3.  This Act takes effect September 1, 2023.
feedback