Bill Text: TX SB321 | 2021-2022 | 87th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to contributions to, benefits from, and the administration of the Employees Retirement System of Texas.

Spectrum: Moderate Partisan Bill (Republican 7-1)

Status: (Passed) 2021-06-18 - Effective on 9/1/21 [SB321 Detail]

Download: Texas-2021-SB321-Introduced.html

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87R3076 BDP-F
By: Huffman S.B. No. 321

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 9.5 [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 September 1, 2021.