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A BILL TO BE ENTITLED
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AN ACT
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relating to the standard service and disability retirement benefits |
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for members of the employee class of the Employees Retirement |
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System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 814.105(a), Government Code, is amended |
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to read as follows: |
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(a) The standard service retirement annuity for service |
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credited in the employee class of membership is an amount computed |
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as the member's average monthly compensation for service in that |
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class for the 60 highest months of compensation multiplied by 2.7 |
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[2.3] percent for each year of service credit in that class. |
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SECTION 2. Section 814.206(a), Government Code, is amended |
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to read as follows: |
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(a) Except as provided by Subsection (b) and Section |
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814.207, a standard disability retirement annuity for service |
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credited in the employee class of membership is an amount computed |
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at the rate of 2.7 [2.3] percent for each year of service credit in |
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that class, times the member's average monthly compensation. |
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SECTION 3. This Act takes effect September 1, 2023. |