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

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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

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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.