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A BILL TO BE ENTITLED
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AN ACT
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relating to the computation of retirement benefits by a public |
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retirement system. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 802, Government Code, is amended by |
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adding Subchapter E to read as follows: |
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SUBCHAPTER E. PROVISIONS APPLICABLE TO ALL PUBLIC RETIREMENT |
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SYSTEMS |
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Sec. 802.401. COMPUTATION OF RETIREMENT BENEFITS: |
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EXCLUSION OF OVERTIME. (a) In computing the amount of a retirement |
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benefit for a member of a public retirement system, a public |
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retirement system may not include any amount paid to the member for |
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hours of overtime in: |
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(1) the amount of the member's compensation; or |
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(2) any other factor used to compute the retirement |
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benefit. |
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(b) This section prevails over any other law relating to the |
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computation of a retirement benefit by a public retirement system |
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to the extent of any conflict. |
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SECTION 2. Section 802.401, Government Code, as added by |
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this Act, applies only to the computation of retirement benefits |
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for a member of a public retirement system who retires on or after |
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the effective date of this Act. The computation of retirement |
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benefits for a member of a public retirement system who retires |
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before the effective date of this Act is subject to the law in |
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effect on the date of the retirement, and that law is continued in |
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effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2011. |