By Maxey H.B. No. 2170
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 [
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.