Bill Text: TX HB1284 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the payment of certain employer contributions for retirees of the Teacher Retirement System of Texas who resume service.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2023-03-03 - Referred to Pensions, Investments & Financial Services [HB1284 Detail]
Download: Texas-2023-HB1284-Introduced.html
88R3550 JCG-D | ||
By: Dean | H.B. No. 1284 |
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relating to the payment of certain employer contributions for | ||
retirees of the Teacher Retirement System of Texas who resume | ||
service. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 825.408(a), Government Code, is amended | ||
to read as follows: | ||
(a) An [ |
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that fails to remit, before the seventh day after the last day of a | ||
month, all member and employer deposits and documentation of the | ||
deposits required by this subchapter to be remitted by the employer | ||
for the month shall pay to the retirement system, in addition to the | ||
deposits, interest on the unpaid amounts at an annual rate | ||
compounded monthly and a late fee in an amount determined by the | ||
retirement system that is based on the size of the employer and may | ||
not exceed $1,000 for each business day after the deadline imposed | ||
by this subsection that the employer fails to submit the | ||
documentation of the deposits. The cumulative amount of late fees | ||
assessed against an employer under this subsection may not exceed | ||
$25,000 per reporting period. The rate of interest is the rate | ||
established under Section 825.313(b)(1), plus two percent. | ||
Interest and late fees required under this section are creditable | ||
to the interest account. On request, the retirement system may | ||
grant a waiver of the deadline imposed by this subsection based on | ||
an employer's financial or technological resources. The retirement | ||
system may establish a process for filing an appeal to reduce or | ||
waive a late fee imposed under this subsection. | ||
SECTION 2. Section 825.4092(e), Government Code, is amended | ||
to read as follows: | ||
(e) The amounts required to be paid under Subsection | ||
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employer for a retiree who retired from the retirement system | ||
before September 1, 2005. | ||
SECTION 3. Section 825.4092(f), Government Code, as added | ||
by Chapter 546 (S.B. 202), Acts of the 87th Legislature, Regular | ||
Session, 2021, is amended to read as follows: | ||
(f) A reporting employer is ultimately responsible for | ||
payment of the amounts required to be contributed under Subsection | ||
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indirectly pass that cost on to the retiree through payroll | ||
deduction, by imposition of a fee, or by any other means designed to | ||
recover the cost. | ||
SECTION 4. Section 825.4092(f), Government Code, as added | ||
by Chapter 511 (S.B. 288), Acts of the 87th Legislature, Regular | ||
Session, 2021, is redesignated as Section 825.4092(g), Government | ||
Code, and amended to read as follows: | ||
(g) [ |
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section, the amounts required to be paid under Subsection | ||
[ |
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employer for a retiree who retired from the retirement system on or | ||
after September 1, 2005, and is employed in a position described by | ||
Section 824.6021(a). This subsection expires February 1, 2025. | ||
SECTION 5. The following provisions of the Government Code | ||
are repealed: | ||
(1) Sections 825.408(a-1) and (a-2); and | ||
(2) Sections 825.4092(b) and (d). | ||
SECTION 6. The changes in law made by this Act apply | ||
beginning with the 2023-2024 school year. | ||
SECTION 7. To the extent of any conflict, this Act prevails | ||
over another Act of the 88th Legislature, Regular Session, 2023, | ||
relating to nonsubstantive additions to and corrections in enacted | ||
codes. | ||
SECTION 8. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2023. |