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A BILL TO BE ENTITLED
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AN ACT
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relating to the payment of certain contributions for retirees of |
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the Teacher Retirement System of Texas who resume service. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 825.4092, Government Code, is amended by |
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adding Subsection (h) to read as follows: |
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(h) Notwithstanding any other provision of this section, |
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the amounts required to be paid under Subsections (b) and (c) are |
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not required to be paid by a reporting employer for the state fiscal |
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years beginning September 1, 2023, and September 1, 2024. This |
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subsection: |
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(1) does not apply to a reporting employer who is an |
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institution of higher education; and |
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(2) expires January 1, 2029. |
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SECTION 2. (a) In addition to amounts contributed by the |
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state to the Teacher Retirement System of Texas under Section |
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825.404, Government Code, and Section 1575.202, Insurance Code, the |
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state shall contribute to the system for the fiscal years beginning |
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September 1, 2023, and September 1, 2024, an amount equal to the |
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total amount of contributions reporting employers would have |
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remitted to the retirement system under Sections 825.4092(b) and |
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(c), Government Code, for employed retirees during each respective |
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fiscal year, as if Section 825.4092(h), Government Code, as added |
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by this Act, did not apply with respect to those retirees' |
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employment during each fiscal year. |
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(b) The board of trustees of the Teacher Retirement System |
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of Texas, in coordination with the Legislative Budget Board, shall |
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certify to the comptroller of public accounts for review and |
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adoption an estimate of the amount necessary to pay the state |
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contribution required by Subsection (a) of this section. For |
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administrative convenience, the board may meet the requirement of |
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this subsection by revising the certified estimates required under |
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Section 825.404, Government Code, and Section 1575.209, Insurance |
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Code. |
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(c) In the same manner prescribed by Sections 403.093(c), |
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825.404(e), and 825.4092(c), Government Code, and Section |
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1575.210, Insurance Code, each month the comptroller shall transfer |
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from the general revenue fund to the appropriate trust fund of the |
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retirement system equal monthly installments of the contribution |
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required by Subsection (a) of this section. If the appropriation |
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provided by the legislature is different from the amount of state |
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contribution required under Subsection (a) of this section, the |
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comptroller, after the end of the fiscal year and in the same manner |
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prescribed by Section 403.093(c), Government Code, and Section |
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1575.210, Insurance Code, shall make adjustments in the applicable |
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trust fund and the general revenue fund so that the total transfers |
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during the year equal the total amount of the state contribution |
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required for that year. |
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(d) Notwithstanding any other law, the contributions |
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required by this section do not increase or otherwise affect |
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contributions required or made under another law, including Section |
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825.404, 825.4041, 825.405, 825.406, 825.407, or 825.4071, |
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Government Code. |
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SECTION 3. This Act takes effect September 1, 2023. |