Bill Text: TX SB1944 | 2023-2024 | 88th Legislature | Introduced

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Bill Title: Relating to the standard service retirement benefits for members of the Teacher Retirement System of Texas.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2023-03-20 - Referred to Finance [SB1944 Detail]

Download: Texas-2023-SB1944-Introduced.html

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88R11939 BDP-D
By: Eckhardt S.B. No. 1944

A BILL TO BE ENTITLED
AN ACT
relating to the standard service retirement benefits for members of
the Teacher Retirement System of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 824.203(a), Government Code, is amended
to read as follows:
(a) Except as provided by Subsections (c) and (d), the
standard service retirement annuity is an amount computed on the
basis of the member's average annual compensation for the five
years of service, whether or not consecutive, in which the member
received the highest annual compensation, times 2.5 [2.3] percent
for each year of service credit in the retirement system.
SECTION 2. This Act takes effect September 1, 2023.