Bill Text: TX SB729 | 2019-2020 | 86th Legislature | Introduced

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Bill Title: Relating to the standard service retirement annuity for certain members of the elected class of the Employees Retirement System of Texas.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2019-03-01 - Referred to State Affairs [SB729 Detail]

Download: Texas-2019-SB729-Introduced.html

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86R7607 LED-F
By: Fallon S.B. No. 729

A BILL TO BE ENTITLED
AN ACT
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 [Subsection] (b)
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
$140,000.
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.