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A BILL TO BE ENTITLED
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AN ACT
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relating to an adjustment to certain benefits paid by the Teacher |
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Retirement System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter H, Chapter 824, Government Code, is |
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amended by adding Section 824.7015 to read as follows: |
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Sec. 824.7015. ADJUSTMENT TO BENEFITS. (a) |
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Notwithstanding Section 824.702, the amount of a monthly service |
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retirement benefit, disability retirement benefit, or death |
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benefit paid under this chapter is increased to include a 0.5 |
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percent adjustment in accordance with this section. |
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(b) The board of trustees shall recompute the amount of a |
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benefit paid monthly under this chapter by applying the 0.5 percent |
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adjustment to the monthly amount otherwise required to be paid as |
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determined in accordance with the other applicable provisions of |
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this chapter and other law. |
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SECTION 2. An adjustment under Section 824.7015, Government |
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Code, as added by this Act, must be made beginning with a benefit |
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payable for the month of September 2017. |
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SECTION 3. 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. |