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.