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A BILL TO BE ENTITLED
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AN ACT
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relating to the composition of the State Pension Review Board. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 801.102(a), Government Code, is amended |
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to read as follows: |
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(a) The board is composed of nine [seven] members. |
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SECTION 2. Section 801.103, Government Code, is amended to |
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read as follows: |
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Sec. 801.103. MEMBERS APPOINTED BY GOVERNOR. (a) The |
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governor shall appoint, with the advice and consent of the senate, |
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[seven] members to the board. |
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(b) The governor shall appoint to the board: |
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(1) three persons who have experience in the fields of |
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securities investment, pension administration, or pension law but |
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who are not members or retirees of a public retirement system; |
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(2) one person who is a fellow of the Society of |
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Actuaries, a member of the American Academy of Actuaries, or an |
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enrolled actuary under the federal Employee Retirement Income |
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Security Act of 1974 (29 U.S.C. Sec. 1001 et seq.); |
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(3) one person who has experience in the field of |
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governmental finance; |
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(4) one person who is a contributing member of a public |
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retirement system; [and] |
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(5) one person who is receiving retirement benefits |
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from a public retirement system; |
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(6) one person who is selected from a list of three |
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names submitted to the governor by the Texas State Association of |
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Fire Fighters; and |
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(7) one person who is selected from a list of six names |
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submitted to the governor as follows: |
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(A) a list of three names submitted by the Texas |
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Municipal Police Association; and |
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(B) a list of three names submitted by the |
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Combined Law Enforcement Associations of Texas. |
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SECTION 3. Section 801.106, Government Code, is amended to |
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read as follows: |
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Sec. 801.106. TERMS OF OFFICE. Members of the board hold |
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office for staggered terms of six years, with the terms of [two or] |
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three members[, as appropriate,] expiring on January 31 of each |
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odd-numbered year. |
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SECTION 4. As soon as practicable after the effective date |
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of this Act, the governor shall appoint the two additional members |
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to the State Pension Review Board from lists provided to the |
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governor as required by Section 801.103, Government Code, as |
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amended by this Act. Notwithstanding Section 801.106, Government |
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Code, as amended by this Act, the members appointed under this |
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section serve terms expiring January 31, 2023. |
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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, 2017. |