79R1503 SGA-D
By: Escobar H.B. No. 346
A BILL TO BE ENTITLED
AN ACT
relating to the amounts to be appropriated for the state
contribution to the teacher retirement program for fiscal years
2006 and 2007.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. (a) The amount of $1,289,584,990 is appropriated
out of the general revenue fund to the Teacher Retirement System of
Texas for the fiscal year ending August 31, 2006, for the purpose of
making the state contribution to the teacher retirement system
pension fund for public education employees and maintaining the
actuarial soundness of the system, with a funding period under 30.9
years. The appropriated amount is an estimate.
(b) The amount of $1,532,763,875 is appropriated out of the
general revenue fund to the Teacher Retirement System of Texas for
the fiscal year ending August 31, 2007, for the purpose of making
the state contribution to the teacher retirement system pension
fund for public education employees and maintaining the actuarial
soundness of the system, with a funding period under 30.9 years.
The appropriated amount is an estimate.
(c) The amount of $370,739,022 is appropriated to the
Teacher Retirement System of Texas for the fiscal year ending
August 31, 2006, for the purpose of making the state contribution to
the teacher retirement system pension fund for higher education
employees and maintaining the actuarial soundness of the system,
with a funding period under 30.9 years. The appropriated amount is
an estimate. Of the total amount appropriated, $285,469,047 is
appropriated from the general revenue fund and $85,269,975 is
appropriated from general revenue-dedicated (other educational and
general income).
(d) The amount of $444,886,825 is appropriated to the
Teacher Retirement System of Texas for the fiscal year ending
August 31, 2007, for the purpose of making the state contribution to
the teacher retirement system pension fund for higher education
employees and maintaining the actuarial soundness of the system,
with a funding period under 30.9 years. The appropriated amount is
an estimate. Of the total amount appropriated, $338,113,987 is
appropriated from the general revenue fund and $106,772,838 is
appropriated from general revenue-dedicated (other educational and
general income).
SECTION 2. (a) The total amounts appropriated under this
Act from the general revenue fund are $1,575,054,037 for the fiscal
year ending August 31, 2006, and $1,870,877,862 for the fiscal year
ending August 31, 2007.
(b) The total amounts appropriated under this Act from
general revenue-dedicated (other educational and general income)
are $85,269,975 for the fiscal year ending August 31, 2006, and
$106,772,838 for the fiscal year ending August 31, 2007.
SECTION 3. (a) The amounts specified in Sections 1(a) and
(c) of this Act are based on state contributions to the Teacher
Retirement System of Texas at a rate of seven percent of payroll for
the fiscal year ending August 31, 2006, estimated.
(b) The amounts specified in Sections 1(b) and (d) of this
Act are based on state contributions to the Teacher Retirement
System of Texas at a rate of eight percent of payroll for the fiscal
year ending August 31, 2007, estimated.
SECTION 4. This Act takes effect September 1, 2005.