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By: Plesa, et al. |
H.B. No. 2434 |
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(Senate Sponsor - Hinojosa of Nueces) |
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(In the Senate - Received from the House May 12, 2025; |
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May 13, 2025, read first time and referred to Committee on Finance; |
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May 21, 2025, reported favorably by the following vote: Yeas 13, |
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Nays 0; May 21, 2025, sent to printer.) |
| Click here to see the committee vote |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the purchase of service credit by certain members of the |
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Employees Retirement 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 813.514, Government Code, is amended by |
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amending Subsection (a-1) and adding Subsections (f) and (g) to |
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read as follows: |
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(a-1) A member may establish service credit under this |
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section in the employee class only for service performed during a |
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90-day waiting period to become a member after beginning employment |
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or holding office. The member may establish service credit for each |
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month of any 90-day waiting period in which the member performed |
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service, regardless of whether the member made a contribution |
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during the 90-day waiting period for which the member establishes |
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service credit. |
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(f) Notwithstanding any other provision of this subtitle, |
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if a member purchases service credit under this section for a month |
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that occurred before the member's most recent date of hiring, the |
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retirement system shall consider for purposes of this subtitle the |
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member's date of hiring to be the first day of the month of the |
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earliest month for which service credit is purchased under this |
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section. |
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(g) The retirement system shall compute the amount of the |
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deposit required by this section in a manner that does not result in |
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an actuarial loss to the retirement system. |
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SECTION 2. This Act takes effect September 1, 2025. |
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* * * * * |