By Gallego H.B. No. 788 75R52 CAS-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to service retirement and death benefits for certain peace 1-3 officers under the Teacher Retirement System of Texas. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 821.001, Government Code, is amended by 1-6 adding Subdivision (20) to read as follows: 1-7 (20) "Peace officer" means a member of the retirement 1-8 system who has been commissioned as a peace officer by a state 1-9 institution of higher education or public technical institute under 1-10 Section 51.203, Education Code. 1-11 SECTION 2. Subchapter C, Chapter 824, Government Code, is 1-12 amended by adding Section 824.2032 to read as follows: 1-13 Sec. 824.2032. SERVICE RETIREMENT BENEFITS FOR CERTAIN PEACE 1-14 OFFICERS. (a) A member who has at least 20 years of service 1-15 credit as a peace officer is eligible to retire regardless of age 1-16 and receive a standard service retirement annuity in an amount 1-17 provided by this section. 1-18 (b) The standard service retirement annuity payable for at 1-19 least 20 years of service credit as a peace officer is an amount 1-20 computed on the basis of the member's average monthly compensation 1-21 for that service for the 36 highest months of compensation, times 1-22 the sum of the percentage factor used in the computation of a 1-23 standard service retirement annuity under Section 824.203 plus .5 1-24 percent. 2-1 (c) The standard service retirement annuity that is payable 2-2 under this section is based on retirement at the age of 50 or 2-3 older. A peace officer who retires before attaining the age of 50 2-4 is entitled to an annuity that is actuarially reduced from the 2-5 annuity available at the age of 50 to the earlier retirement age. 2-6 (d) The standard service retirement annuity payable for at 2-7 least 20 years of service credit as a peace officer may not exceed 2-8 100 percent of the higher of the average compensation computed 2-9 under Section 824.203 or the average compensation computed under 2-10 Subsection (b). 2-11 (e) For purposes of this section, service as a peace officer 2-12 is creditable as provided by rule of the board of trustees or on a 2-13 month-to-month basis, whichever is greater. 2-14 SECTION 3. Section 824.204(a), Government Code, is amended 2-15 to read as follows: 2-16 (a) Instead of the standard service retirement annuity 2-17 payable under Section 824.203, the service retirement annuity for 2-18 certain peace officers payable under Section 824.2032, or an 2-19 annuity reduced because of age under Section 824.202, a retiring 2-20 member may elect to receive an optional service retirement annuity, 2-21 reduced for early retirement if applicable, under this section. An 2-22 election to receive an optional service retirement annuity must be 2-23 filed with the board of trustees not later than the effective date 2-24 of retirement. 2-25 SECTION 4. Section 824.402(a), Government Code, is amended 2-26 to read as follows: 2-27 (a) Except as provided by Section 824.401 or Section 3-1 824.4061, the designated beneficiary of a member who dies during a 3-2 school year in which the member has performed service is eligible 3-3 to receive at the beneficiary's election the greatest of the 3-4 following amounts: 3-5 (1) an amount equal to twice the member's annual 3-6 compensation for the school year immediately preceding the school 3-7 year in which the member dies, or $80,000, whichever is less; 3-8 (2) an amount equal to twice the member's rate of 3-9 annual compensation for the school year in which the member dies, 3-10 or $80,000, whichever is less; 3-11 (3) 60 monthly payments of a standard service 3-12 retirement annuity, computed as provided by Section 824.203; 3-13 (4) an optional retirement annuity for the designated 3-14 beneficiary's life in an amount computed as provided by Section 3-15 824.204(c)(1) as if the member had retired on the last day of the 3-16 month immediately preceding the month in which the member dies; or 3-17 (5) an amount equal to the amount of accumulated 3-18 contributions in the member's individual account in the member 3-19 savings account. 3-20 SECTION 5. Subchapter E, Chapter 824, Government Code, is 3-21 amended by adding Section 824.4061 to read as follows: 3-22 Sec. 824.4061. ANNUITY FOR SURVIVOR OF PEACE OFFICER. If a 3-23 member who has at least 20 years of service credit as a peace 3-24 officer dies, the amount of the death benefit annuity payable for 3-25 the member's service as a peace officer is an amount computed and 3-26 funded as provided by Section 824.2032, including any applicable 3-27 reduction factors. 4-1 SECTION 6. (a) This Act takes effect September 1, 1997. 4-2 (b) This Act applies to a peace officer who retires on or 4-3 after the effective date of this Act regardless of the period 4-4 during which the service as a peace officer was performed. 4-5 SECTION 7. The importance of this legislation and the 4-6 crowded condition of the calendars in both houses create an 4-7 emergency and an imperative public necessity that the 4-8 constitutional rule requiring bills to be read on three several 4-9 days in each house be suspended, and this rule is hereby suspended.