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A BILL TO BE ENTITLED
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AN ACT
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relating to the funding of retirement systems for firefighters in |
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certain municipalities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsections (a) and (b), Section 10.01, Chapter |
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183 (S.B. 598), Acts of the 64th Legislature, Regular Session, 1975 |
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(Article 6243e.1, Vernon's Texas Civil Statutes), are amended to |
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read as follows: |
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(a) Each municipality in which a fire department to which |
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this Act applies is located shall appropriate and contribute to the |
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fund an amount equal to a percentage [18.05 percent] of the |
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compensation of all members during that month as follows: |
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(1) 19.05 percent, beginning on the first pay date |
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following September 30, 2010, through the pay date immediately |
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preceding September 30, 2011; |
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(2) 20.05 percent, beginning on the first pay date |
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following September 30, 2011, through the pay date immediately |
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preceding September 30, 2012; |
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(3) 21.05 percent, for 24 pay dates of the |
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municipality beginning on the first pay date following September |
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30, 2012; and |
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(4) 22.05 percent, for all pay dates of the |
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municipality that follow the 24 pay dates referenced in Subdivision |
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(3) of this subsection. |
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(b) Each firefighter shall pay into the fund each month a |
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percentage [13.70 percent] of the firefighter's compensation for |
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that month as follows: |
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(1) 15.70 percent, for the pay dates of the |
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municipality following September 30, 2010, through the pay date |
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immediately preceding September 30, 2011; |
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(2) 16.20 percent, beginning on the first pay date of |
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the municipality following September 30, 2011, through the pay date |
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immediately preceding September 30, 2012; |
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(3) 16.70 percent, beginning on the first pay date of |
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the municipality following September 30, 2012, through the pay date |
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immediately preceding September 30, 2013; |
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(4) 17.20 percent, beginning on the first pay date of |
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the municipality following September 30, 2013, through the pay date |
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immediately preceding September 30, 2014; |
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(5) 17.70 percent, beginning on the first pay date of |
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the municipality following September 30, 2014, through the pay date |
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immediately preceding September 30, 2015; |
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(6) 18.20 percent, beginning on the first pay date of |
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the municipality following September 30, 2015, through the pay date |
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immediately preceding September 30, 2016; and |
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(7) 18.70 percent, for the first pay date of the |
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municipality following September 30, 2016, and all subsequent pay |
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dates of the municipality. |
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SECTION 2. This Act takes effect September 1, 2011. |