Bill Text: TX SB1862 | 2019-2020 | 86th Legislature | Introduced


Bill Title: Relating to the state contribution to the Employees Retirement System of Texas.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2019-03-18 - Referred to State Affairs [SB1862 Detail]

Download: Texas-2019-SB1862-Introduced.html
  86R8836 LED-D
 
  By: Menéndez S.B. No. 1862
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the state contribution to the Employees Retirement
  System of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 815.403(a), Government Code, is amended
  to read as follows:
         (a)  During each fiscal year, the state shall contribute to
  the retirement system:
               (1)  an amount equal to 11 [7.4] percent of the total
  compensation of all members of the retirement system for that year;
               (2)  money to pay lump-sum death benefits for retirees
  under Section 814.501;
               (3)  an amount for the law enforcement and custodial
  officer supplemental retirement fund equal to 2.13 percent of the
  aggregate state compensation of all custodial and law enforcement
  officers for that year;
               (4)  money necessary for the administration of the law
  enforcement and custodial officer supplemental retirement fund;
  and
               (5)  money for service credit not previously
  established, as provided by Section 813.202(c) or 813.302(d).
         SECTION 2.  This Act takes effect December 1, 2019, but only
  if the voters approve the constitutional amendment proposed by the
  86th Legislature, Regular Session, 2019, 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. If
  that amendment is not approved by the voters, this Act has no
  effect.
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