Bill Text: TX HB1150 | 2019-2020 | 86th Legislature | Introduced


Bill Title: Relating to the standard service retirement annuity for members of the legislature and the lieutenant governor.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2019-02-26 - Referred to Pensions, Investments & Financial Services [HB1150 Detail]

Download: Texas-2019-HB1150-Introduced.html
  86R1638 LED-D
 
  By: Hinojosa H.B. No. 1150
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the standard service retirement annuity for members of
  the legislature and the lieutenant governor.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 814.103, Government Code, is amended to
  read as follows:
         Sec. 814.103.  SERVICE RETIREMENT BENEFITS FOR ELECTED CLASS
  SERVICE. (a) Except as  provided by Subsection (b), the standard
  service retirement annuity for service credited in the elected
  class of membership for a person described by Section
  812.002(a)(1), other than the lieutenant governor, or a person
  described by Section 812.002(a)(3) is an amount equal to the number
  of years of service credit in that class, times two percent of the
  state salary, excluding longevity pay payable under Section
  659.0445 and as adjusted from time to time, being paid a district
  judge.
         (b)  The standard service retirement annuity for service
  credited in the elected class computed under Subsection (a) may not
  exceed at any time 100 percent of the state salary being paid a
  district judge.
         (c)  The standard service retirement annuity for service
  credited in the elected class of membership for the lieutenant
  governor or a person described by Section 812.002(a)(2) is an
  amount equal to the amount of the average standard service
  retirement annuity of a full-time certified classroom teacher who
  retired from employment with the public free schools of this state
  in the preceding calendar year as determined by the Teacher
  Retirement System of Texas.
         (d)  Not later than February 1 of each year, the Teacher
  Retirement System of Texas shall make the determination required
  under Subsection (c) with respect to the preceding calendar year
  and notify the lieutenant governor, members of the legislature, and
  the retirement system of its determination.
         SECTION 2.  Section 814.103, Government Code, as amended by
  this Act, applies only to the standard service retirement annuity
  of a member of the elected class who is first eligible to become a
  member of the elected class on or after January 1, 2020. The
  standard service retirement annuity of a member of the elected
  class who is first eligible to become a member of the elected class
  before January 1, 2020, is governed by the law as it existed
  immediately before that date, and that law is continued in effect
  for that purpose.
         SECTION 3.  This Act takes effect on the date on which the
  constitutional amendment proposed by the 86th Legislature, Regular
  Session, 2019, setting the salaries of members of the legislature
  and the lieutenant governor based on the average public school
  teacher salary in this state is approved by the voters. If that
  amendment is not approved by the voters, this Act has no effect.
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