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A BILL TO BE ENTITLED
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AN ACT
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relating to certain increases in benefits under the firefighters' |
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relief and retirement fund in certain municipalities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 11(c), Article 6243e.2(1), Revised |
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Statutes, is amended to read as follows: |
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(c) Subject to Subsection (c-3) of this section and except |
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as provided by Subsection (c-4) of this section, beginning with the |
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fiscal year ending June 30, 2021, the benefits, including survivor |
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benefits, payable based on the service of a member who has |
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terminated active service and who is or would have been at least 55 |
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years old, terminated active service under Section 4 of this |
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article before July 1, 2017, and is or would have been at least 48 |
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years old, received or is receiving an on-duty disability pension |
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under Section 6(c) of this article, or died under the conditions |
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described by Section 7(c) of this article, shall be increased in |
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October of each year by a percentage rate equal to the most recent |
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five fiscal years' smoothed return, as determined by the fund |
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actuary, minus 475 basis points. |
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SECTION 2. 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, 2021. |