Enrolled Bill Summary

Senate Bill 593 amends provisions relating to the police officer retirement systems in Austin. The bill reduces the amount of creditable service members must have in order to be eligible for retirement at any age or to participate in the deferred retirement option plan from 25 to 23 years. The bill also authorizes the board of the retirement system to change the age and length-of-service requirements for service retirement and participation in the deferred retirement option plan under certain circumstances. The bill authorizes a member participating in the option plan to elect to receive partial payments instead of a single lump-sum payment.