By Ogden                                              H.B. No. 2900
       74R7700 GCH-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the rate of state contributions to the optional
    1-3  retirement program at institutions of higher education, the Texas
    1-4  Higher Education Coordinating Board, and the Central Education
    1-5  Agency.
    1-6        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-7        SECTION 1.  Section 830.201(a), Government Code, is amended
    1-8  to read as follows:
    1-9        (a)  Each fiscal year the state shall contribute to the
   1-10  optional retirement program for persons who began participation in
   1-11  the program before September 1, 1995, an amount equal to 8 1/2
   1-12  percent of the aggregate annual compensation of those <all>
   1-13  participants in the program during that year.  Each fiscal year the
   1-14  state shall contribute to the optional retirement program for
   1-15  persons who begin participation in the program after August 31,
   1-16  1995, an amount computed on the aggregate annual compensation of
   1-17  those participants in the program during that year at a rate that
   1-18  does not exceed the rate of state contributions to the retirement
   1-19  system for that year.  A participant in the optional retirement
   1-20  program shall contribute to the program 6.65 percent of the
   1-21  person's annual compensation.
   1-22        SECTION 2.  This Act takes effect September 1, 1995.
   1-23        SECTION 3.  The importance of this legislation and the
   1-24  crowded condition of the calendars in both houses create an
    2-1  emergency and an imperative public necessity that the
    2-2  constitutional rule requiring bills to be read on three several
    2-3  days in each house be suspended, and this rule is hereby suspended.