By Dear H.B. No. 651
74R423 GCH-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to eligibility for service retirement from the Teacher
1-3 Retirement System of Texas.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 824.202, Government Code, is amended to
1-6 read as follows:
1-7 Sec. 824.202. Eligibility for Service Retirement. (a) A
1-8 member is eligible to retire and receive a standard service
1-9 retirement annuity if the member:
1-10 (1) is at least 65 years old and has at least five
1-11 years of service credit in the retirement system; <or>
1-12 (2) is at least 60 years old and has at least 20 years
1-13 of service credit in the retirement system; or
1-14 (3) regardless of age, has at least 30 years of
1-15 service credit in the retirement system.
1-16 (b) If a member is at least 55 years old and has at least
1-17 five years of service credit in the retirement system, the member
1-18 is eligible to retire and receive a service retirement annuity
1-19 reduced from the standard service retirement annuity available
1-20 under Subsection (a)(1), to a percentage derived from the following
1-21 table:
1-22 Age at Date of Retirement
1-23 Years of 55 56 57 58 59 60 61 62 63 64 65
1-24 Service
2-1 at least 5
2-2 but less
2-3 than 20 47% 51% 55% 59% 63% 67% 73% 80% 87% 93% 100%
2-4 (c) If a member is at least 55 years old and has at least 20
2-5 years of service credit in the retirement system, the member is
2-6 eligible to retire and receive a service retirement annuity reduced
2-7 from the standard service retirement annuity available under
2-8 Subsection (a)(2), to a percentage derived from the following
2-9 table:
2-10 Years of Service Age at Date of Retirement
2-11 55 56 57 58 59 60
2-12 at least 20 but less than 21 90% 92% 94% 96% 98% 100%
2-13 at least 21 but less than 22 92% 94% 96% 98% 98% 100%
2-14 at least 22 but less than 23 94% 96% 98% 98% 98% 100%
2-15 at least 23 but less than 24 96% 98% 98% 98% 98% 100%
2-16 at least 24 but less than 30 98% 98% 98% 98% 98% 100%
2-17 30 or more 100% 100% 100% 100% 100% 100%
2-18 (d) <If a member has at least 30 years of service credit in
2-19 the retirement system, the member is eligible to retire regardless
2-20 of age and receive a service retirement annuity consisting of a
2-21 percentage of the standard service retirement annuity available
2-22 under Subsection (a)(2), derived from the table in Subsection (c).
2-23 The board of trustees shall extend the table in Subsection (c) to
2-24 ages earlier than 55 years by decreasing the percentages by two
2-25 percent for each year of age under 55 years.>
2-26 <(e)> The board of trustees may adopt tables for reduction
2-27 of benefits for early retirement by each month of age, but the
3-1 range of percentages in the tables within a year must be limited to
3-2 the range provided between two years of age by this section.
3-3 (e) <(f)> Except as provided by Chapter 803 or 805 <the
3-4 proportionate retirement program in Subtitle A>, a member is not
3-5 eligible to receive service retirement benefits from the retirement
3-6 system unless the member has at least five years of service credit
3-7 in the retirement system for actual service in public schools.
3-8 SECTION 2. This Act takes effect September 1, 1995.
3-9 SECTION 3. The importance of this legislation and the
3-10 crowded condition of the calendars in both houses create an
3-11 emergency and an imperative public necessity that the
3-12 constitutional rule requiring bills to be read on three several
3-13 days in each house be suspended, and this rule is hereby suspended.