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A BILL TO BE ENTITLED
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AN ACT
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relating to annuities of certain annuitants of the Judicial |
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Retirement System Plan Two. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 839.102(a), Government Code, as amended |
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by Acts 2005, 79th Leg., R.S., Ch. 1033 (H.B. 1114), Sec. 6, is |
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amended to read as follows: |
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(a) Except as provided by Subsections (b), (c), [and] (d), |
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(f), and (g), the standard service retirement annuity is an amount |
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equal to 50 percent of the state salary being paid at the time the |
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member retires to a judge of a court of the same classification as |
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the last court to which the retiring member was elected or |
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appointed. |
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SECTION 2. Section 839.102, Government Code, is amended by |
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adding Subsection (g) to read as follows. |
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(g) A person earning a service retirement annuity based on |
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the state salary being paid at the time the member retired is |
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entitled to have the person’s annuity recalculated based on the |
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state salary, as it existed on January 1, 2017, being paid to a |
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judge of a court of the same classification as the last court to |
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which the retiring member was elected or appointed. After including |
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any increase under this subsection, the recalculated service |
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retirement annuity may not be an amount that is greater than 90 |
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percent of that state salary being paid on January 1, 2017. An |
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annuitant is only entitled to an adjustment under this subsection |
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on a finding by the board of trustees that, as determined by an |
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actuarial valuation: |
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(1) the amortization period for the unfunded actuarial |
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liabilities of the retirement system does not exceed 30 years by one |
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or more years; and |
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(2) as a result of paying the adjustment, the time |
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required to amortize the unfunded actuarial liabilities of the |
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retirement system would not be increased to a period that exceeds 30 |
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years by one or more years. |
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SECTION 3. Section 839.102(a), Government Code, as amended |
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by Acts 2005, 79th Leg., |
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R.S., Ch. 1203 (H.B. 617), Sec. 3, is |
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repealed. |
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SECTION 4. This Act takes effect September 1, 2017. |