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A BILL TO BE ENTITLED
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AN ACT
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relating to the cost of health insurance for certain retirees of 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. Subchapter E, Chapter 1575, Insurance Code, is |
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amended by adding Section 1575.214 to read as follows: |
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Sec. 1575.214. TEMPORARY PREMIUM REDUCTION. (a) The |
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trustee shall adopt rules that result in a monthly contribution |
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reduction for retirees in an amount that does not exceed the amount |
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of a retiree's monthly contribution and is equal to the greater of: |
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(1) $175 per month per retiree; or |
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(2) 20 percent of a retiree's monthly contribution. |
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(b) This section expires September 1, 2013. |
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SECTION 2. The Teacher Retirement System of Texas shall |
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adopt the rules required by Section 1575.214, Insurance Code, as |
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added by this Act, not later than September 1, 2009. |
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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 September 1, 2009. |