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A BILL TO BE ENTITLED
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AN ACT
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relating to the retirement benefits for certain members and |
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annuitants of the employee class of the Employees Retirement System |
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of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 813.201(b), Government Code, is amended |
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to read as follows: |
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(b) A member may not accrue or establish service credit in |
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the employee class of membership when the total amount of service |
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credit, multiplied by the percentage in effect for computing |
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annuities under Section 814.103, 814.105, 814.106, or 814.107 would |
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exceed the number 100. When the maximum amount of service credit is |
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accrued or established by a member in the employee or elected class, |
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member and state contributions cease, although the member retains |
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membership subject to Section 812.005. |
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SECTION 2. Subchapter B, Chapter 814, Government Code, is |
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amended by adding Section 814.106 to read as follows: |
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Sec. 814.106. SERVICE RETIREMENT BENEFITS FOR CERTAIN |
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MEMBERS TRANSFERRING SERVICE CREDIT TO EMPLOYEE CLASS FROM ELECTED |
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CLASS. (a) This section only applies to a member who establishes or |
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transfers service credit from the elected class to the employee |
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class under Section 813.503. |
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(b) Notwithstanding Section 814.105 or any other law, the |
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standard service retirement annuity for a member subject to this |
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section is an amount computed as the member's average monthly |
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compensation for service performed as a member of the retirement |
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system multiplied by 2.3 percent for each year of service credit in |
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the system. |
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(c) For purposes of Subsection (b), with respect to the |
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service credit established or transferred from the elected class, a |
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member is assumed to have received the state salary, excluding |
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longevity pay payable under Section 659.0445 and as adjusted from |
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time to time, being paid a district judge. |
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(d) The standard service retirement annuity for service |
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credited in the employee class may not be less than $150 a month nor |
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more than 100 percent of the average monthly compensation computed |
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under Subsection (b). |
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SECTION 3. Section 814.108(a), Government Code, is amended |
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to read as follows: |
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(a) Instead of the standard service retirement annuity |
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payable under Section 814.103, [or] 814.105, or 814.106, the |
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standard combined service retirement annuity payable under Section |
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814.107, or an annuity actuarially reduced because of age under |
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Section 814.107, a retiring member may elect to receive an optional |
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service retirement annuity under this section. |
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SECTION 4. (a) The change in law made by this Act applies |
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only to a member of the Employees Retirement System of Texas who |
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retires on or after the effective date of this Act. |
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(b) A member of the Employees Retirement System of Texas who |
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retires before the effective date of this Act is governed by the law |
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as it existed immediately before the effective date of this Act, and |
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that law is continued in effect for that purpose. |
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SECTION 5. 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, 2011. |