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A BILL TO BE ENTITLED
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AN ACT
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relating to the standard service retirement annuity for certain |
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members of the elected class of the Employees Retirement System of |
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Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 814.103, Government Code, is amended to |
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read as follows: |
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Sec. 814.103. SERVICE RETIREMENT BENEFITS FOR ELECTED CLASS |
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SERVICE. (a) Except as provided by Subsections [Subsection] (b) |
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and (c), the standard service retirement annuity for service |
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credited in the elected class of membership is an amount equal to |
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the number of years of service credit in that class, times two |
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percent of the state salary, excluding longevity pay payable under |
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Section 659.0445 and as adjusted from time to time, being paid a |
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district judge. |
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(b) The standard service retirement annuity for service |
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credited in the elected class computed under Subsection (a) may not |
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exceed at any time 100 percent of the state salary being paid a |
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district judge. |
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(c) The standard service retirement annuity for service |
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credited in the elected class of membership all of which was earned |
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as a member of the legislature is an amount equal to the number of |
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years of service credit in that class, times two percent of |
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$140,000. |
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SECTION 2. The change in law made by this Act applies only |
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to the standard service retirement annuity for a person who is first |
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eligible to become a member of the elected class on or after |
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September 1, 2019. A person who is first eligible to become a |
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member of the elected class before the effective date of this Act is |
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governed by the law in effect immediately before the effective date |
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of this Act, and the former law is continued in effect for that |
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purpose. |
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SECTION 3. This Act takes effect September 1, 2019. |