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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 of certain members of |
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the Judicial Retirement System of Texas Plan One. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsection (c), Section 834.102, Government |
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Code, is amended to read as follows: |
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(c) The service retirement annuity of a member qualifying |
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for retirement under Section 834.101(a) 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 subsequent service credit the member |
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accrues under Section 835.1015(a). After including any increase |
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under Subsection (b), the service retirement annuity under this |
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subsection may not be an amount that is greater than 100 [90] |
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percent of the applicable salary under Subsection (a). |
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SECTION 2. The changes in law made by this Act apply only to |
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a member of the Judicial Retirement System of Texas Plan One who |
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retires on or after the effective date of this Act. A member who |
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retires before the effective date of this Act is governed by the law |
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in effect immediately before that date, and the former law is |
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continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2013. |