79R7858 DLF-D

By:  Herrero                                                      H.B. No. 1755



A BILL TO BE ENTITLED

AN ACT

relating to the transferability of service credit and proportionate 
participation in public retirement systems.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  (a) In this section:                                               
		(1)  "Public retirement system" has the meaning 
assigned by Section 801.001, Government Code.
		(2)  "Work group" means the work group established by 
Subsection (b) of this section.
	(b)  The board of trustees of the Employees Retirement System 
of Texas shall appoint a work group composed of:
		(1)  a representative of the State Pension Review 
Board;                    
		(2)  a representative of the Employees Retirement 
System of Texas;          
		(3)  a representative of the Teacher Retirement System 
of Texas;            
		(4)  a representative of the Judicial Retirement System 
of Texas;           
		(5)  a representative of the Texas County and District 
Retirement System; and
		(6)  a representative of the other public retirement 
systems in this state. 
	(c)  The work group shall seek the input of all public 
retirement systems in this state.
	(d)  Notwithstanding any other law, the work group shall 
develop and implement a fair and equitable plan to permit transfer 
of service credit or proportionate participation among all public 
retirement systems in this state. The plan must be applicable to all 
members of all of the public retirement systems.
	SECTION 2.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2005.