Amend CSHB 1 (house committee printing) in Article III of the bill, following the appropriations to the Teacher Retirement System (page III-39), by adding the following appropriately numbered rider:

____.  Study and Report on Alternative Service Retirement Benefits for Peace Officers. (a) It is the intent of the legislature that, out of funds appropriated to the Teacher Retirement System above, the retirement system conduct a study on the feasibility of offering alternative service retirement benefits under the system to members of the system who are peace officers.

(b)  In conducting the study, the Teacher Retirement System shall assess the costs to and impact on the retirement system associated with offering members of the retirement system who are peace officers the following alternative service retirement benefits:

(1)  a supplemental benefit for peace officers that is substantially similar in design and cost structure to the supplemental retirement benefit payable from the law enforcement and custodial officer supplemental retirement fund established under Section 815.317, Government Code; and

(2)  a service retirement benefit under a cash balance benefit plan that is substantially similar in design and cost structure to the cash balance benefit plan established under Chapter 820, Government Code, and provides retirement eligibility at any age after the member attains 20 or 25 years of service.

(c)  Not later than March 1, 2024, an employer who employs members of the Teacher Retirement System who are peace officers shall submit the following information to the retirement system:

(1)  the number of peace officers employed by the employer on December 31, 2023;

(2)  the number of unfilled peace officer positions on December 31, 2023;

(3)  for the 10-year period preceding December 31, 2023, the average years of service earned by peace officers who resigned before retirement; and

(4)  the compensation or salary scale for peace officers employed by the employer.

(d)  Not later than December 31, 2024, the Teacher Retirement System shall prepare and submit a report to the legislature that contains the findings of the study conducted under this rider and a summary of the information submitted to the retirement system under Subsection (c) of this rider.