Bill Text: TX HB1473 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the standard service and disability retirement benefits for members of the employee class of the Employees Retirement System of Texas.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-03-03 - Referred to Pensions, Investments & Financial Services [HB1473 Detail]
Download: Texas-2023-HB1473-Introduced.html
88R1015 BDP-D | ||
By: Rose | H.B. No. 1473 |
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relating to the standard service and disability retirement benefits | ||
for members of the employee class of the Employees Retirement | ||
System of Texas. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 814.105(a), Government Code, is amended | ||
to read as follows: | ||
(a) The standard service retirement annuity for service | ||
credited in the employee class of membership is an amount computed | ||
as the member's average monthly compensation for service in that | ||
class for the 60 highest months of compensation multiplied by 2.7 | ||
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SECTION 2. Section 814.206(a), Government Code, is amended | ||
to read as follows: | ||
(a) Except as provided by Subsection (b) and Section | ||
814.207, a standard disability retirement annuity for service | ||
credited in the employee class of membership is an amount computed | ||
at the rate of 2.7 [ |
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that class, times the member's average monthly compensation. | ||
SECTION 3. This Act takes effect September 1, 2023. |