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.