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By: Hughes, Gonzalez Toureilles, Paxton |
H.B. No. 2882 |
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(Senate Sponsor - Wentworth) |
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(In the Senate - Received from the House May 8, 2007; |
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May 10, 2007, read first time and referred to Committee on State |
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Affairs; May 15, 2007, reported favorably by the following vote: |
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Yeas 8, Nays 0; May 15, 2007, sent to printer.) |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the service retirement annuity of certain members of |
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the Judicial Retirement System of Texas Plan One and the Judicial |
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Retirement System of Texas Plan Two. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 834.102(c), Government Code, is amended |
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to read as follows: |
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(c) The service retirement annuity of a member qualifying |
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for retirement under Section 834.101(a) is the applicable state |
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salary under Subsection (a), multiplied by a percentage amount that |
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is the sum of 50 percent plus the product of 2.3 [two] percent |
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multiplied by the number of years of subsequent service credit the |
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member accrues under Section 835.1015(a). After including any |
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increase under Subsection (b), the service retirement annuity under |
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this subsection may not be an amount that is greater than 90 [80] |
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percent of the applicable salary under Subsection (a). |
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SECTION 2. Sections 839.102(d) and (f), Government Code, |
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are amended to read as follows: |
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(d) The service retirement annuity of a member qualifying |
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for retirement under Section 839.101(a) is the applicable state |
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salary under Subsection (a) multiplied by a percentage amount that |
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is the sum of 50 percent plus the product of 2.3 [two] percent |
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multiplied by the number of years of subsequent service credit the |
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member accrues under Section 840.1025(a). After including any |
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increase under Subsection (b), the service retirement annuity under |
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this subsection may not be an amount that is greater than 90 [80] |
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percent of the applicable salary under Subsection (a). |
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(f) The service retirement annuity of a member qualifying |
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for retirement under Section 839.101(a)(4) is the applicable state |
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salary under Subsection (a) multiplied by a percentage amount that |
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is the sum of 50 percent plus the product of 2.3 [two] percent |
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multiplied by the number of years of subsequent service credit the |
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member accrues under Section 840.1027. After including any |
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increase under Subsection (b), the service retirement annuity under |
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this subsection may not be an amount that is greater than 90 [80] |
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percent of the applicable salary under Subsection (a). |
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SECTION 3. The changes in law made by this Act apply only to |
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a member of the Judicial Retirement System of Texas Plan One or the |
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Judicial Retirement System of Texas Plan Two who retires on or after |
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the effective date of this Act. A member who retires before the |
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effective date of this Act is governed by the law in effect |
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immediately before that date, and the former law is continued in |
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effect for that purpose. |
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SECTION 4. This Act takes effect September 1, 2007. |
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* * * * * |