Bill Text: TX HB3248 | 2023-2024 | 88th Legislature | Introduced


Bill Title: Relating to contributions to, benefits under, and administration of Texas local fire fighters' retirement systems.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Introduced - Dead) 2023-03-15 - Referred to Pensions, Investments & Financial Services [HB3248 Detail]

Download: Texas-2023-HB3248-Introduced.html
  88R9097 BDP-D
 
  By: Anchía H.B. No. 3248
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to contributions to, benefits under, and administration of
  Texas local fire fighters' retirement systems.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 29(b), Texas Local Fire Fighters
  Retirement Act (Article 6243e, Vernon's Texas Civil Statutes), is
  amended to read as follows:
         (b)  A municipality or other political subdivision that has
  employees who are participating members of a retirement system
  shall make contributions to the system each payroll period.  Except
  as provided by Subsection (d) of this section, contributions
  required under this subsection are computed on the total
  compensation paid to the employees who are participating members of
  the system. A municipality or other political subdivision is
  required to make contributions under this subsection at the same
  rate paid by employees or 12 percent, whichever is the smaller rate.
  The governing body of a municipality or other political subdivision
  by ordinance or, in accordance with Section 29A of this Act, by
  contract may adopt a rate of employer contributions that is greater
  than the rate required by this subsection.
         SECTION 2.  Texas Local Fire Fighters Retirement Act
  (Article 6243e, Vernon's Texas Civil Statutes), is amended by
  adding Section 29A to read as follows:
         Sec. 29A.  CONTRACT TO INCREASE EMPLOYER CONTRIBUTIONS AND
  MAKE CERTAIN RELATED SYSTEM MODIFICATIONS. (a)  A municipality or
  other political subdivision may contract with the board of trustees
  of a retirement system to adopt a rate of employer contributions
  that is greater than the rate required by Section 29(b) of this Act.
         (b)  Notwithstanding any other law, a contract entered into
  under this section may include provisions modifying the following
  with respect to a retirement system:
               (1)  employee contributions;
               (2)  actuarial assumptions, provided the actuarial
  assumptions are approved by an actuary who meets the qualifications
  prescribed by Section 7(c) of this Act; and
               (3)  benefits.
         SECTION 3.  (a)  Except as provided by Subsection (b) of this
  section, a contract described by Section 29A, Texas Local Fire
  Fighters Retirement Act (Article 6243e, Vernon's Texas Civil
  Statutes), as added by this Act, that was entered into by a
  municipality or other political subdivision and the board of
  trustees of a retirement system before the effective date of this
  Act is validated as of the date the contract was made or attempted
  to be made.
         (b)  This section does not validate:
               (1)  an act that, under the law of this state at the
  time the act occurred, was a misdemeanor or felony; or
               (2)  a matter that on the effective date of this Act:
                     (A)  is involved in litigation if the litigation
  ultimately results in the matter being held invalid by a final
  judgment of a court; or
                     (B)  has been held invalid by a final judgment of a
  court.
         SECTION 4.  This Act takes effect September 1, 2023.
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