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A BILL TO BE ENTITLED
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AN ACT
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relating to certain benefits payable by the Judicial Retirement |
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System of Texas Plan One and the Judicial Retirement System of Texas |
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Plan Two. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. (a) This section applies to an annuitant under |
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the Judicial Retirement System of Texas Plan One or the Judicial |
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Retirement System of Texas Plan Two who is eligible to receive: |
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(1) a service or disability retirement annuity under |
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Section 834.102, 834.103, 834.203, 839.102, 839.103, or 839.203, |
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Government Code, that is based on an effective date of retirement |
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that occurred on or before September 1, 2024; or |
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(2) a death benefit annuity under Section 834.301, |
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834.302, 839.301, or 839.302, Government Code, that is based on a |
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death that occurred on or before September 1, 2024. |
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(b) Notwithstanding any other law: |
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(1) on September 1, 2025, the Employees Retirement |
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System of Texas shall recompute each annuity being paid an |
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annuitant under Section 834.102, 834.103, 834.203, 834.301, |
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834.302, 839.102, 839.103, 839.203, 839.301, or 839.302, |
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Government Code, by multiplying the amount of the monthly annuity |
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being paid under those sections by five percent and applying the |
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adjustment to the amount otherwise being paid under those sections; |
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and |
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(2) on September 1, 2026, the Employees Retirement |
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System of Texas shall recompute each annuity being paid an |
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annuitant under the sections of law described in Subdivision (1) of |
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this subsection, by multiplying the amount of the monthly annuity |
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being paid under those sections by five percent and applying the |
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adjustment to the amount otherwise being paid under those sections. |
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SECTION 2. The Employees Retirement System of Texas is |
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required to make the cost-of-living adjustments under Section 1 of |
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this Act only if the board of trustees of the Employees Retirement |
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System of Texas finds that the legislature appropriated money to |
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the Judicial Retirement System of Texas Plan One and the Judicial |
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Retirement System of Texas Plan Two in an amount sufficient to |
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provide the adjustments without increasing the unfunded actuarial |
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liabilities of the retirement system. The amount appropriated by |
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the legislature to provide the adjustments must be in addition to |
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any amounts the state is required to contribute to the retirement |
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system under Subchapter B, Chapter 835, or Subchapter B, Chapter |
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840, Government Code. If the board of trustees of the Employees |
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Retirement System of Texas finds that the legislature did not |
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appropriate money in an amount sufficient to provide the |
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cost-of-living adjustments without increasing the unfunded |
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actuarial liabilities of the retirement system, the retirement |
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system may not make the adjustments. |
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SECTION 3. The adjustment of benefits required under |
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Section 1 of this Act applies only to an annuity payment that |
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becomes payable on or after the effective date of this Act. |
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SECTION 4. This Act takes effect September 1, 2025. |