By Turner of Coleman H.B. No. 3350
76R8554 GJH-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the collection of information about the refunding of
1-3 contributions made to the Employees Retirement System of Texas.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 812.102, Government Code, is amended to
1-6 read as follows:
1-7 Sec. 812.102. PROCEDURE FOR WITHDRAWAL. (a) A member
1-8 initiates a withdrawal of contributions by filing an application
1-9 for a refund with the retirement system or the agency or department
1-10 with which the member holds or most recently held a position.
1-11 (b) The retirement system shall adopt procedures to track
1-12 and compile information of all applications filed under this
1-13 section from the time an application is made until any warrant for
1-14 the refund is issued by the retirement system.
1-15 SECTION 2. Section 815.510(a), Government Code, is amended
1-16 to read as follows:
1-17 (a) The Employees Retirement System of Texas shall submit a
1-18 report not later than the 25th day of the month following the end
1-19 of each fiscal year to the governor, the lieutenant governor, the
1-20 speaker of the house of representatives, the executive director of
1-21 the State Pension Review Board, the appropriate oversight
1-22 committees of the house and senate, and the Legislative Budget
1-23 Board. The report shall include the following:
1-24 (1) the current end-of-fiscal-year market value of the
2-1 trust fund;
2-2 (2) the asset allocations of the trust fund expressed
2-3 in percentages of stocks, fixed income, cash, or other financial
2-4 investments; [and]
2-5 (3) the investment performance of the trust fund
2-6 utilizing accepted industry measurement standards; and
2-7 (4) a statistical analysis based on information
2-8 compiled under Section 812.102.
2-9 SECTION 3. This Act takes effect September 1, 1999.
2-10 SECTION 4. The importance of this legislation and the
2-11 crowded condition of the calendars in both houses create an
2-12 emergency and an imperative public necessity that the
2-13 constitutional rule requiring bills to be read on three several
2-14 days in each house be suspended, and this rule is hereby suspended.