By Telford H.B. No. 1893
75R8082 T
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to eligibility for service retirement through the Teacher
1-3 Retirement System.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 824.202 is amended to read as follows:
1-6 (a) A member is eligible to retire and receive a standard
1-7 service retirement annuity if the member has at least five years of
1-8 service credit in the retirement system and:
1-9 (1) is at least 60 [65] years old [and has at least
1-10 five years of service credit in the retirement system]; or
1-11 (2) has any combination of age and years of service
1-12 credit totaling 80 [is at least 60 years old and has at least 20
1-13 years of service credit in the retirement system; or]
1-14 [(3) is at least 50 years old and has at least 30
1-15 years of service credit in the retirement system].
1-16 (b) If a member is at least 55 years old and has at least
1-17 five years of service credit in the retirement system, the member
1-18 is eligible to retire and receive a service retirement annuity
1-19 reduced from the standard service retirement annuity available
1-20 under Subsection (a)(1), to a percentage derived from the following
1-21 table:
2-1 Age at Date of Retirement
2-2 Years of 55 56 57 58 59 60 [61 62 63 64 65]
2-3 Service
2-4 at least
2-5 5 but
2-6 less
2-7 than
2-8 20 67% 73% 80% 87% 93% 100% [73% 80% 87% 93% 100%]
2-9 [47% 51% 55% 59% 63% 67%]
2-10 (c) If a member is at least 55 years old and has at least 20
2-11 years of service credit in the retirement system, the member is
2-12 eligible to retire and receive a service retirement annuity reduced
2-13 from the standard service retirement annuity available under
2-14 Subsection (a)(2), to a percentage derived from the following
2-15 table:
2-16 Years of Service Age at Date of Retirement
2-17 55 56 57 58 59 60
2-18 at least 20 but less than 21 90% 92% 94% 96% 98% 100%
2-19 at least 21 but less than 22 92% 94% 96% 98% 100% 100%
2-20 [98%]
2-21 at least 22 but less than 23 94% 96% 98% 100% 100% 100%
2-22 [98% 98%]
2-23 at least 23 but less than 24 96% 98% 100% 100% 100% 100%
2-24 [98% 98% 98%]
2-25 at least 24 but less than 30 98% 100% 100% 100% 100% 100%
2-26 [98% 98% 98% 98%]
2-27 30 or more 100% 100% 100% 100% 100% 100%
3-1 (d) If a member has at least 30 years of service credit in
3-2 the retirement system, the member is eligible to retire regardless
3-3 of age and receive a service retirement annuity consisting of a
3-4 percentage of the standard service retirement annuity available
3-5 under Subsection (a)(2), derived from the table in Subsection (c).
3-6 The board of trustees shall extend the table in Subsection (c) to
3-7 ages earlier than 55 years by decreasing the percentages by two
3-8 percent for each year of age under 55 years.
3-9 (e) The board of trustees may adopt tables for reduction of
3-10 benefits for early retirement by each month of age, but the range
3-11 of percentages in the tables within a year must be limited to the
3-12 range provided between two years of age by this section.
3-13 (f) Except as provided by the proportionate retirement
3-14 program in Subtitle A, a member is not eligible to receive service
3-15 retirement benefits from the retirement system unless the member
3-16 has at least five years of service credit in the retirement system
3-17 for actual services in public schools.
3-18 SECTION 2. This Act takes effect September 1, 1997.
3-19 SECTION 3. The importance of this legislation and the
3-20 crowded condition of the calendars in both houses create an
3-21 emergency and an imperative public necessity that the
3-22 constitutional rule requiring bills to be read on three several
3-23 days in each house be suspended, and this rule is hereby suspended.