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A BILL TO BE ENTITLED
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AN ACT
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relating to the service retirement annuity for appellate judges |
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under the Judicial Retirement System Plan Two. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 839.102, Government Code, is amended by |
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amending Subsection (f) and adding Subsection (g) to read as |
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follows: |
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(f) The service retirement annuity of a member qualifying |
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for retirement under Section 839.101(a)(4) is the applicable state |
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salary under Subsection (a) multiplied by a percentage amount that |
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is the sum of 50 percent plus the product of 2.3 percent multiplied |
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by the number of years of prior service credit under Subsection (g) |
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and subsequent service credit the member accrues under Section |
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840.1027. After including any increase under Subsection (b), the |
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service retirement annuity under this subsection may not be an |
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amount that is greater than 90 percent of the applicable salary |
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under Subsection (a). |
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(g) For purposes of Subsection (f), a member's prior service |
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credit is the amount of service credit that the member earned in the |
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retirement system prior to serving on an appellate court that is in |
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excess of the amount of service credit that the member requires to |
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be eligible to retire and receive a service retirement annuity |
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under Section 839.101(a)(4). |
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SECTION 2. The change in law made by this Act applies only |
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to a person who retires on or after the effective date of this Act. |
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The change in law does not apply to a person who retired before the |
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effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2011. |