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A BILL TO BE ENTITLED
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AN ACT
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relating to computation of the standard service annuity under the |
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Teacher Retirement System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 824.203, Government Code, is amended by |
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adding Subsection (a-1) to read as follows: |
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(a-1) Notwithstanding Subsection (a) and except as provided |
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by Subsections (c) and (d), the standard service retirement annuity |
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for a member who retires on or after September 1, 2009, but before |
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September 1, 2014, is an amount computed on the basis of the |
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member's average annual compensation for the three years of |
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service, whether or not consecutive, in which the member received |
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the highest annual compensation, times 2.3 percent for each year of |
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service credit in the retirement system. This subsection expires |
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September 1, 2014. |
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SECTION 2. This Act takes effect September 1, 2009. |