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A BILL TO BE ENTITLED
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AN ACT
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relating to the state contribution to the Employees Retirement |
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System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 815.403(a), Government Code, is amended |
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to read as follows: |
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(a) During each fiscal year, the state shall contribute to |
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the retirement system: |
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(1) an amount equal to 11 [7.4] percent of the total |
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compensation of all members of the retirement system for that year; |
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(2) money to pay lump-sum death benefits for retirees |
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under Section 814.501; |
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(3) an amount for the law enforcement and custodial |
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officer supplemental retirement fund equal to 2.13 percent of the |
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aggregate state compensation of all custodial and law enforcement |
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officers for that year; |
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(4) money necessary for the administration of the law |
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enforcement and custodial officer supplemental retirement fund; |
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and |
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(5) money for service credit not previously |
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established, as provided by Section 813.202(c) or 813.302(d). |
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SECTION 2. This Act takes effect December 1, 2019, but only |
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if the voters approve the constitutional amendment proposed by the |
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86th Legislature, Regular Session, 2019, authorizing an increase in |
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the maximum amount of the state's annual contribution to the |
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Employees Retirement System of Texas to 11 percent of the total |
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compensation paid to individuals participating in the system. If |
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that amendment is not approved by the voters, this Act has no |
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effect. |