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A BILL TO BE ENTITLED
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AN ACT
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relating to Employees Retirement System of Texas collection of |
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member contributions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 815.402, Government Code, is amended to |
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read as follows: |
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Sec. 815.402. COLLECTION OF MEMBER CONTRIBUTIONS. |
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(a) Except as provided by Section 813.201, each payroll period, |
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each department or agency of the state shall cause to be deducted |
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from each member's compensation a contribution of: |
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(1) six and four-tenths [six] percent of the |
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compensation if the member is not a member of the legislature; or |
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(2) eight percent of the compensation if the member is |
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a member of the legislature. |
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(b) To facilitate the making of deductions, the board of |
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trustees may modify a member's required deductions by an amount |
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that does not exceed one-tenth of one percent of the annual |
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compensation on which the deduction is made. |
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(c) Each department or agency head shall certify to the |
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board of trustees and to the disbursing officer of the department or |
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agency on each payroll, or in another manner prescribed by the |
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board, the amounts to be deducted from each member's compensation. |
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(d) The disbursing officer of each department or agency on |
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authority from the department or agency head shall: |
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(1) make deductions from each member's compensation |
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for contributions to the retirement system; |
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(2) transmit monthly, or at the time designated by the |
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board of trustees, a certified copy of the payroll or report to the |
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retirement system; and |
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(3) pay the amount deducted to the retirement system |
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for deposit in the employees saving account. |
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(e) The retirement system shall record all receipts of |
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member contributions and shall deliver the receipts to the |
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comptroller. The comptroller shall credit the receipts to the |
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employees saving account. |
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(f) The deductions required by this section shall be made |
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even if the member's compensation is reduced below the amount equal |
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to the minimum compensation provided by law. |
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(g) By becoming a member of the retirement system, a member |
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consents to the deductions required by this section. The payment of |
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compensation less those deductions is a complete release of all |
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claims, except benefits provided by this subtitle, for services |
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rendered by the member during the payment period. |
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SECTION 2. This Act takes effect September 1, 2007. |