| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the state contribution to the Teacher Retirement System |
|
|
of Texas. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 825.404(a), Government Code, is amended |
|
|
to read as follows: |
|
|
(a) During each fiscal year, the state shall contribute to |
|
|
the retirement system an amount equal to at least 6.7 [six] and not |
|
|
more than 10 percent of the aggregate annual compensation of all |
|
|
members of the retirement system during that fiscal year. |
|
|
SECTION 2. Section 825.404(a), Government Code, as amended |
|
|
by this Act, applies beginning with the fiscal year that begins |
|
|
September 1, 2007. |
|
|
SECTION 3. This Act takes effect September 1, 2007. |