By Maxey                                              H.B. No. 2170
         77R6464 GJH-F                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the purchase of service credit under the Teacher
 1-3     Retirement System of Texas for certain work experience of career or
 1-4     technology education teachers.
 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-6           SECTION 1. Section 823.404(c), Government Code, is amended to
 1-7     read as follows:
 1-8           (c)  A member may establish credit under this section by
 1-9     depositing with the retirement system, for each year of service, an
1-10     amount equal to the sum of:
1-11                 (1)  the member's contributions to the retirement
1-12     system during the first year of membership service after the
1-13     equivalent membership service; and
1-14                 (2)  a fee of eight percent, compounded annually, of
1-15     the required contribution under Subdivision (1) computed from the
1-16     date of first eligibility to the date of deposit [actuarial present
1-17     value, at the time of deposit, of the additional standard
1-18     retirement annuity benefits that would be attributable to the
1-19     conversion of the work experience into service credit based on
1-20     rates and tables recommended by the actuary and adopted by the
1-21     board of trustees].
1-22           SECTION 2. This Act takes effect September 1, 2001.