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A BILL TO BE ENTITLED
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AN ACT
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relating to a study by the comptroller to implement a pilot program |
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that establishes a pension revenue enhancement plan for the |
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Employees Retirement System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. INTERIM STUDY ON PENSION REVENUE ENHANCEMENT |
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PLAN. The comptroller of public accounts, in consultation with the |
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board of trustees of the Employees Retirement System of Texas, the |
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Texas Department of Insurance, and any other agency or person the |
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comptroller determines appropriate, shall conduct a study |
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regarding the feasibility and anticipated financial impact of |
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implementing a pilot program to establish a pension revenue |
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enhancement plan that is the same as or similar to the pilot program |
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proposed in the introduced version of H.B. No. 4643, Acts of the |
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87th Legislature, Regular Session, 2021. In conducting the study, |
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the comptroller may only consider implementation under the pilot |
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program of a pension revenue enhancement plan that is designed to be |
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mortality neutral. |
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SECTION 2. FINDINGS AND RECOMMENDATIONS. Not later than |
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September 1, 2022, the comptroller of public accounts shall report |
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the comptroller's findings and recommendations to the governor, the |
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lieutenant governor, the speaker of the house of representatives, |
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and each member of the legislature. If the comptroller recommends |
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implementation of the pilot program, the comptroller shall include |
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in the recommendations specific statutory and regulatory changes |
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that the comptroller determines necessary or appropriate to |
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implement the recommendations, including, if appropriate, |
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recommendations for changes to the legislation referenced in |
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Section 1 of this Act. |
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SECTION 3. EXPIRATION OF ACT. This Act expires September |
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15, 2022. |
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SECTION 4. EFFECTIVE DATE. This Act takes effect |
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immediately if it receives a vote of two-thirds of all the members |
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elected to each house, as provided by Section 39, Article III, Texas |
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Constitution. If this Act does not receive the vote necessary for |
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immediate effect, this Act takes effect September 1, 2021. |