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A JOINT RESOLUTION
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proposing a constitutional amendment removing the limit on the |
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state's contribution to the Employees Retirement System of Texas. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 67(b)(3), Article XVI, Texas |
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Constitution, is amended to read as follows: |
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(3) The amount contributed by a person participating |
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in the Employees Retirement System of Texas or the Teacher |
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Retirement System of Texas shall be established by the legislature |
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but may not be less than six percent of current compensation. The |
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amount contributed by the state to the Employees Retirement System |
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of Texas may not be less than six percent of the aggregate |
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compensation paid to individuals participating in the system. The |
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amount contributed by the state to the Teacher Retirement System of |
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Texas may not be less than six percent nor more than 10 percent of |
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the aggregate compensation paid to individuals participating in the |
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system. In an emergency, as determined by the governor, the |
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legislature may appropriate such additional sums as are actuarially |
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determined to be required to fund benefits authorized by law. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 2, 2021. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment removing the limit on |
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the state's contributions to the Employees Retirement System of |
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Texas." |