Bill Text: TX SB803 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to certain increases in benefits under the firefighters' relief and retirement fund in certain municipalities.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-03-11 - Referred to Finance [SB803 Detail]
Download: Texas-2021-SB803-Introduced.html
87R2228 KFF-F | ||
By: Creighton | S.B. No. 803 |
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relating to certain increases in benefits under the firefighters' | ||
relief and retirement fund in certain municipalities. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 11(c), Article 6243e.2(1), Revised | ||
Statutes, is amended to read as follows: | ||
(c) Subject to Subsection (c-3) of this section and except | ||
as provided by Subsection (c-4) of this section, beginning with the | ||
fiscal year ending June 30, 2021, the benefits, including survivor | ||
benefits, payable based on the service of a member who has | ||
terminated active service and who is or would have been at least 55 | ||
years old, terminated active service under Section 4 of this | ||
article before July 1, 2017, and is or would have been at least 48 | ||
years old, received or is receiving an on-duty disability pension | ||
under Section 6(c) of this article, or died under the conditions | ||
described by Section 7(c) of this article, shall be increased in | ||
October of each year by a percentage rate equal to the most recent | ||
five fiscal years' smoothed return, as determined by the fund | ||
actuary, minus 475 basis points. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2021. |