S.B. No. 520 AN ACT 1-1 relating to eligibility for retirement and benefits under the Texas 1-2 Municipal Retirement System. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Section 854.102, Government Code, is amended by 1-5 adding Subsection (g) to read as follows: 1-6 (g) A member is eligible to retire and receive a service 1-7 retirement annuity if the member has at least 20 years of credited 1-8 service in the retirement system performed for one or more 1-9 municipalities that have adopted a like provision under Section 1-10 854.202(g). 1-11 SECTION 2. Section 854.202, Government Code, is amended by 1-12 adding Subsection (g) to read as follows: 1-13 (g) The governing body may authorize a member to retire and 1-14 receive a service retirement benefit if the member has at least 20 1-15 years of credited service performed for one or more municipalities 1-16 that have authorized eligibility under this subsection. 1-17 SECTION 3. Section 854.202, Government Code, is amended by 1-18 adding Subsections (h) and (i) to read as follows: 1-19 (h) Before a governing body may elect to authorize a member 1-20 to retire pursuant to Subsection (g), the governing body shall: 1-21 (1) prepare an actuarial analysis of member retirement 1-22 annuities at 20 years of service; and 1-23 (2) hold a public hearing. 1-24 (i) The public hearing required under Subsection (h) shall 2-1 be held pursuant to the notice provisions of the open meetings law, 2-2 Chapter 551. 2-3 SECTION 4. This Act takes effect September 1, 1995. 2-4 SECTION 5. The importance of this legislation and the 2-5 crowded condition of the calendars in both houses create an 2-6 emergency and an imperative public necessity that the 2-7 constitutional rule requiring bills to be read on three several 2-8 days in each house be suspended, and this rule is hereby suspended.