By Maxey H.B. No. 435 75R2798 GCH-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to supplemental payments of annuities by 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. Subchapter H, Chapter 824, Government Code, is 1-6 amended by adding Section 824.702 to read as follows: 1-7 Sec. 824.702. SUPPLEMENTAL ANNUITY PAYMENTS. (a) The 1-8 retirement system shall make a supplemental payment as provided by 1-9 Subsection (b) of each annuity that was paid by the retirement 1-10 system during the fiscal year preceding the fiscal year in which 1-11 the supplemental payment is made and that is being paid at the time 1-12 of the supplemental payment. A supplemental payment is in addition 1-13 to the regular monthly annuity payment. An annuitant is entitled 1-14 to receive a payment equal to 10 percent of one month's annuity 1-15 payment for each fiscal year that preceded the fiscal year in which 1-16 the supplemental payment is made and in which the annuity has been 1-17 paid, except that a supplemental payment may not exceed 350 percent 1-18 of a monthly annuity. 1-19 (b) The retirement system shall make a supplemental payment 1-20 under this section in December 1997 and in December 1998, unless 1-21 the actuary certifies that a payment would be in violation of 1-22 Section 821.006. 1-23 (c) The retirement system shall pay a supplemental payment 1-24 provided by Subsection (a) from the retired reserve account and may 2-1 transfer to that account from the state contribution account any 2-2 portion of the amount that exceeds the amount in the retired 2-3 reserve account available to finance a supplemental payment and 2-4 that is actuarially determined to be necessary to finance the 2-5 supplemental payment. 2-6 SECTION 2. The importance of this legislation and the 2-7 crowded condition of the calendars in both houses create an 2-8 emergency and an imperative public necessity that the 2-9 constitutional rule requiring bills to be read on three several 2-10 days in each house be suspended, and this rule is hereby suspended.