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A BILL TO BE ENTITLED
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AN ACT
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relating to the composition of the board of trustees of the Teacher |
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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 825.001, Government Code, is amended to |
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read as follows: |
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Sec. 825.001. COMPOSITION OF BOARD OF TRUSTEES. The board |
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of trustees is composed of 11 [nine] members. |
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SECTION 2. Sections 825.002(a), (d), and (e), Government |
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Code, are amended to read as follows: |
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(a) The governor shall appoint, with the advice and consent |
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of the senate and as provided by this section, nine [seven] members |
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of the board of trustees. |
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(d) The governor shall appoint two members [one member] of |
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the board from a slate of three former members of the retirement |
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system who have retired and are receiving benefits from the |
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retirement system and who have been nominated in accordance with |
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Subsections (f) and (g) by the persons who have retired and are |
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receiving benefits from the retirement system. The two members hold |
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office for staggered terms. |
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(e) The governor shall appoint two members [one member] from |
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a slate of three members of the retirement system who are currently |
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employed by an institution of higher education and who have been |
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nominated in accordance with Subsection (f) by the members of the |
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retirement system whose most recent credited service was performed |
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for an institution of higher education. The two members hold office |
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for staggered terms. |
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SECTION 3. (a) Notwithstanding the term of six years |
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stipulated by Section 825.004(a), Government Code, as soon as |
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practicable, the retired former members of the Teacher Retirement |
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System of Texas shall prepare a slate of three nominees and the |
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governor shall appoint from that slate an additional member to the |
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board of trustees of the Teacher Retirement System of Texas under |
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Section 825.002(d), Government Code, as amended by this Act, to |
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serve a term that expires on a date that preserves the required |
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staggering of terms. Subsequent board of trustee members appointed |
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to that position shall serve the six-year term. |
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(b) Notwithstanding the term of six years stipulated by |
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Section 825.004(a), Government Code, as soon as practicable, the |
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members of the Teacher Retirement System of Texas who are currently |
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employed by an institution of higher education shall prepare a |
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slate of three nominees and the governor shall appoint from that |
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slate an additional member to the board of trustees of the Teacher |
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Retirement System of Texas under Section 825.002(e), Government |
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Code, as amended by this Act, to serve a term that expires on a date |
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that preserves the required staggering of terms. Subsequent board |
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of trustee members appointed to that position shall serve the |
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six-year term. |
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SECTION 4. 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 September 1, 2009. |