SRC-TNM S.B. 1210 75(R) BILL ANALYSIS Senate Research Center S.B. 1210 By: Barrientos State Affairs 4-21-97 As Filed DIGEST Currently, an eligible state employee is not authorized to take early retirement and spread his or her total retirement benefits over a longer period of time. An eligible employee is one who is at least 55 years old and has at least 20 years of service credit in the Employees Retirement System of Texas. S.B. 1210 would enable eligible state employees to retire earlier while keeping the same level of benefits that they would be entitled to at age 65. PURPOSE As proposed, S.B. 1210 outlines provisions regarding eligibility of state employees for a service retirement annuity from the Employees Retirement System of Texas. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 814.104, Government Code, by adding Subsection (c), to provide that a member who is at least 55 years old and has at least 20 years of service credit in the Employees Retirement System of Texas is eligible to retire and receive a service retirement annuity actuarially reduced from the standard service retirement annuity. SECTION 2. Effective date: September 1, 1997. SECTION 3. Emergency clause.