Bill Text: TX SJR60 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Proposing a constitutional amendment to increase the amount that the state may contribute to the Employees Retirement System of Texas.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2019-03-18 - Referred to State Affairs [SJR60 Detail]
Download: Texas-2019-SJR60-Introduced.html
| 86R15735 LED-D | ||
| By: Menéndez | S.J.R. No. 60 | |
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| proposing a constitutional amendment to increase the amount that | ||
| the state may contribute to the Employees 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 to the Employees Retirement System | ||
| of Texas may not be less than six percent nor more than 11 percent of | ||
| the aggregate compensation paid to individuals participating in the | ||
| system. The amount contributed by the state to the Teacher | ||
| Retirement System of Texas may not be less than six percent nor more | ||
| than 10 percent of the aggregate compensation paid to individuals | ||
| participating in the system. 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 5, 2019. | ||
| The ballot shall be printed to permit voting for or against the | ||
| proposition: "The constitutional amendment to improve the | ||
| actuarial soundness of the Employees Retirement System of Texas by | ||
| authorizing an increase in the maximum amount of the state's annual | ||
| contribution to the Employees Retirement System of Texas to 11 | ||
| percent of the total compensation paid to individuals participating | ||
| in the system." | ||
