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.