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

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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

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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.