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House Bill 3169 |
House Author: Crownover |
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Effective: See below |
Senate Sponsor: Duncan |
House Bill 3169 amends the Government Code to repeal a provision that allowed members of the Teacher Retirement System of Texas (TRS) with at least seven years of credit for actual membership service to purchase up to three years of service credit unrelated to actual employment by paying the full actuarial present value of the additional benefits gained. The change does not apply to an agreement to purchase credit that exists immediately before January 1, 2006, unless the agreement is terminated before all the payments are made. The provision's repeal is effective January 1, 2006, and there are other effective dates for changes in related provisions that will become obsolete on repeal of the provision and expiration of related agreements.