By: Marchant H.B. No. 2835 73R8395 GCH-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to providing for a benefit increase in certain annuities 1-3 payable by the Teacher Retirement System of Texas. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. (a) Monthly payments of a death or retirement 1-6 benefit annuity by the Teacher Retirement System of Texas are 1-7 increased beginning with the payment due at the end of January 1-8 1994. 1-9 (b) The increase applies only if the latest effective date 1-10 of retirement of the person on whose account the benefit is based, 1-11 or the date of death in the case of a death benefit annuity, 1-12 occurred before September 1, 1991. The increase does not apply to 1-13 payments received under Section 824.304(a), 824.404, or 824.501, 1-14 Government Code. 1-15 (c) The amount of the monthly increase is computed by 1-16 multiplying the previous monthly benefit by a percentage determined 1-17 in accordance with the following table: 1-18 Retirement Date or, if applicable, Date of Death Increase 1-19 Before September 1, 1968 5 percent 1-20 On or after September 1, 1968, but before September 1, 1969 7 percent 1-21 On or after September 1, 1969, but before September 1, 1970 6 percent 1-22 On or after September 1, 1970, but before September 1, 1971 13 percent 1-23 On or after September 1, 1971, but before September 1, 1972 12 percent 2-1 On or after September 1, 1972, but before September 1, 1973 13 percent 2-2 On or after September 1, 1973, but before September 1, 1974 15 percent 2-3 On or after September 1, 1974, but before September 1, 1975 12 percent 2-4 On or after September 1, 1975, but before September 1, 1976 10 percent 2-5 On or after September 1, 1976, but before September 1, 1977 14 percent 2-6 On or after September 1, 1977, but before September 1, 1978 13 percent 2-7 On or after September 1, 1978, but before September 1, 1979 11 percent 2-8 On or after September 1, 1979, but before September 1, 1980 10 percent 2-9 On or after September 1, 1980, but before September 1, 1981 7 percent 2-10 On or after September 1, 1981, but before September 1, 1991 5 percent 2-11 (d) The increase for a monthly retirement annuity to a 2-12 retiree is based on the retiree's latest effective retirement date. 2-13 The increase for a monthly retirement annuity being continued to a 2-14 beneficiary after the death of the retiree is based on the 2-15 retiree's retirement date. The increase for a death benefit 2-16 annuity is based on the date of death of the person on whose 2-17 account the benefit is based. 2-18 SECTION 2. The importance of this legislation and the 2-19 crowded condition of the calendars in both houses create an 2-20 emergency and an imperative public necessity that the 2-21 constitutional rule requiring bills to be read on three several 2-22 days in each house be suspended, and this rule is hereby suspended.