H.B. No. 3169
relating to purchase of equivalent membership service credit in
the Teacher Retirement System of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 825.307(a), Government Code, is amended
to read as follows:
(a) The retirement system shall deposit in a member's
individual account in the member savings account:
(1) the amount of contributions to the retirement
system that is deducted from the member's compensation;
(2) the portion of a deposit made on or after
resumption of membership that represents the amount of retirement
(3) the portion of a deposit to reinstate service
credit previously canceled that represents the amount withdrawn or
(4) the portion of a deposit to establish military
service credit required by Section 823.302(c);
(5) the portion of a deposit to establish equivalent
membership service credit required by Section 823.401(d),
823.402(e)(1) or (e)(2), or 823.404(c)[
, 823.405, or
(6) interest earned on money in the account as
provided by Subsections (b) and (c) and Section 825.313(c).
SECTION 2. Section 823.405, Government Code, is repealed.
SECTION 3. Unless the agreement is terminated before all
payments are made, the change in law made by this Act does not apply
to an agreement that existed immediately before January 1, 2006,
between an individual and the Teacher Retirement System of Texas
for the purchase in installments of service credit under Section
823.405, Government Code.
SECTION 4. (a) Except as provided by Subsections (b) and
(c) of this section, this Act takes effect September 1, 2005.
(b) The change in law made by this Act to Section
825.307(a), Government Code, takes effect January 1, 2009.
(c) Section 2 of this Act takes effect January 1, 2006.
President of the Senate Speaker of the House
I certify that H.B. No. 3169 was passed by the House on May
13, 2005, by a non-record vote.
Chief Clerk of the House
I certify that H.B. No. 3169 was passed by the Senate on May
25, 2005, by the following vote: Yeas 31, Nays 0.
Secretary of the Senate