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AN ACT
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relating to retirement under public retirement systems for |
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employees of certain municipalities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 2(32) and (33), Chapter 451, Acts of the |
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72nd Legislature, Regular Session, 1991 (Article 6243n, Vernon's |
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Texas Civil Statutes), are amended to read as follows: |
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(32) "Normal retirement age" means: |
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(A) age 62; [or] |
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(B) 55 years of age with 20 years of creditable |
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service; or |
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(C) 23 years of creditable service, regardless of |
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years of age. |
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(33) "Normal retirement date" means the earlier of the |
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date a member attains a normal retirement age or the date on which |
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the member has completed 23 [25] years of creditable service or a |
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lesser number of years of creditable service established by the |
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retirement board under Section 10(g) of this Act. |
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SECTION 2. Section 9(p), Chapter 451, Acts of the 72nd |
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Legislature, Regular Session, 1991 (Article 6243n, Vernon's Texas |
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Civil Statutes), is amended to read as follows: |
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(p) A member who retires after reaching normal retirement |
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age and continues or resumes employment with the employer in a |
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position that is required to participate in another retirement |
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system is entitled to continue to receive the retirement allowance |
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paid under this Act. A retired member who resumes regular full-time |
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employment with an employer in a position that is not required to |
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participate in another retirement system sponsored by the employer |
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automatically resumes membership as an active contributory member, |
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and the retirement board shall terminate the person's retirement |
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allowance. The retirement allowance of a retired member shall be |
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suspended if the member is employed by an employer in a position in |
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which the employee is required to participate in the retirement |
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system for at least six months of any consecutive 12 calendar months |
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and works, is budgeted, or is compensated for more than 29 hours in |
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a calendar week. When the person again retires, the retirement |
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system shall compute the benefit based on service before and after |
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the initial retirement. The resulting benefit is reduced |
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actuarially to reflect the value of the benefits received before |
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the resumption of full-time employment. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect October 1, 2009. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 1979 was passed by the House on April |
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22, 2009, by the following vote: Yeas 149, Nays 0, 1 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 1979 was passed by the Senate on May |
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19, 2009, by the following vote: Yeas 30, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |