By:  Dear                                             H.B. No. 1465
       73R4718 SOS-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to retirement eligibility and benefits for certain members
    1-3  of the Teacher Retirement System of Texas.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Subchapter C, Chapter 824, Government Code, is
    1-6  amended by adding Section 824.2021 to read as follows:
    1-7        Sec. 824.2021.  TEMPORARY ELIGIBILITY FOR SERVICE RETIREMENT.
    1-8  (a)  Notwithstanding Section 824.202, a member is eligible to
    1-9  retire and receive a service retirement annuity if:
   1-10              (1)  the member has at least five years of service
   1-11  credit on January 1, 1994; and
   1-12              (2)  the member's age and the amount of the member's
   1-13  service credit, if each is increased by five years, entitle the
   1-14  member to retire under Section 824.202.
   1-15        (b)  The standard service retirement annuity of an eligible
   1-16  member under this section is computed under Section 824.203 using
   1-17  the amount of the member's service credit plus five years, except
   1-18  that:
   1-19              (1)  the addition to the member's service credit may
   1-20  not be used in determining the member's average annual
   1-21  compensation; or
   1-22              (2)  if the addition to the member's service credit
   1-23  results in an amount that is more than 50 years, the member's total
   1-24  service credit is equal to 50 years.
    2-1        (c)  An annuity reduced because of age under
    2-2  Section 824.202(b), (c), or (d) of an eligible member under this
    2-3  section is computed using the amount of the member's service credit
    2-4  plus five years and the member's age plus five years.
    2-5        (d)  An optional service retirement annuity under
    2-6  Section 824.204 of an eligible member under this section must be
    2-7  actuarially reduced, using the member's actual age, from the
    2-8  annuity otherwise payable under this chapter.
    2-9        (e)  This section expires January 1, 1995.
   2-10        SECTION 2.  Section 824.2021, Government Code, as added by
   2-11  this Act, applies only to retirements that occur on or after
   2-12  January 1, 1994.
   2-13        SECTION 3.  The importance of this legislation and the
   2-14  crowded condition of the calendars in both houses create an
   2-15  emergency and an imperative public necessity that the
   2-16  constitutional rule requiring bills to be read on three several
   2-17  days in each house be suspended, and this rule is hereby suspended,
   2-18  and that this Act take effect and be in force from and after its
   2-19  passage, and it is so enacted.