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A BILL TO BE ENTITLED
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AN ACT
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relating to the accrual of interest on annuity and other payments |
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made to certain retirees who have resumed employment within the |
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Texas Municipal Retirement System. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 852.108(f) and (j), Government Code, |
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are amended to read as follows: |
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(f) Monthly payments of a suspended annuity shall be resumed |
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in the month following the month in which employment is terminated |
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with the reemploying municipality and recomputed to reflect the |
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accumulation of interest, [without change in the amount except for] |
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any increase allowed under Section 854.203, and [or] the duration |
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of or another condition pertaining to the suspended benefit. Except |
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as provided by Subsection (j), payment of the resumed benefit may |
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not be made for any month during which the payment was suspended |
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under this section. |
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(j) A person to whom this section applies shall receive a |
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lump-sum payment in an amount equal to the sum of the service |
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retirement annuity payments the person would have received had the |
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person's annuity payments not been discontinued and suspended under |
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this section, plus accumulated interest, if the person: |
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(1) initially retired based on a bona fide termination |
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of employment; and |
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(2) resumed employment with the person's reemploying |
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municipality at least eight years after the effective date of the |
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person's retirement. |
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SECTION 2. The change in law made by this Act applies only |
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to a member of the Texas Municipal Retirement System who terminates |
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employment with the person's reemploying municipality and files an |
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application for resumption of retirement with the board of trustees |
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of the Texas Municipal Retirement System under Section 852.108, |
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Government Code, as amended by this Act, on or after the effective |
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date of this Act. A member who terminates employment with the |
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person's reemploying municipality and files an application for |
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resumption of retirement with the board under Section 852.108, |
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Government Code, before the effective date of this Act is governed |
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by the law as it existed immediately before that date, and the |
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former law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |