By Cain S.B. No. 557
74R5544 GCH-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the rate of state contributions to 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 825.404(a), Government Code, is amended
1-6 to read as follows:
1-7 (a) During each fiscal year, the state shall contribute to
1-8 the retirement system an amount equal to 7.31 <eight> percent of
1-9 the aggregate annual compensation of all members of the retirement
1-10 system during that fiscal year. The legislature may not
1-11 appropriate contributions to the retirement system at a different
1-12 rate.
1-13 SECTION 2. This Act takes effect September 1, 1995.
1-14 SECTION 3. The importance of this legislation and the
1-15 crowded condition of the calendars in both houses create an
1-16 emergency and an imperative public necessity that the
1-17 constitutional rule requiring bills to be read on three several
1-18 days in each house be suspended, and this rule is hereby suspended.