Bill Text: TX HB3561 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the payment of certain contributions for retirees of the Teacher Retirement System of Texas who resume service.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2023-03-16 - Referred to Pensions, Investments & Financial Services [HB3561 Detail]
Download: Texas-2023-HB3561-Introduced.html
| 88R4555 JCG-D | ||
| By: VanDeaver | H.B. No. 3561 | |
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| relating to the payment of certain 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 825.4092, Government Code, is amended by | ||
| adding Subsection (h) to read as follows: | ||
| (h) Notwithstanding any other provision of this section, | ||
| the amounts required to be paid under Subsections (b) and (c) are | ||
| not required to be paid by a reporting employer for the state fiscal | ||
| years beginning September 1, 2023, and September 1, 2024. This | ||
| subsection: | ||
| (1) does not apply to a reporting employer who is an | ||
| institution of higher education; and | ||
| (2) expires January 1, 2029. | ||
| SECTION 2. (a) In addition to amounts contributed by the | ||
| state to the Teacher Retirement System of Texas under Section | ||
| 825.404, Government Code, and Section 1575.202, Insurance Code, the | ||
| state shall contribute to the system for the fiscal years beginning | ||
| September 1, 2023, and September 1, 2024, an amount equal to the | ||
| total amount of contributions reporting employers would have | ||
| remitted to the retirement system under Sections 825.4092(b) and | ||
| (c), Government Code, for employed retirees during each respective | ||
| fiscal year, as if Section 825.4092(h), Government Code, as added | ||
| by this Act, did not apply with respect to those retirees' | ||
| employment during each fiscal year. | ||
| (b) The board of trustees of the Teacher Retirement System | ||
| of Texas, in coordination with the Legislative Budget Board, shall | ||
| certify to the comptroller of public accounts for review and | ||
| adoption an estimate of the amount necessary to pay the state | ||
| contribution required by Subsection (a) of this section. For | ||
| administrative convenience, the board may meet the requirement of | ||
| this subsection by revising the certified estimates required under | ||
| Section 825.404, Government Code, and Section 1575.209, Insurance | ||
| Code. | ||
| (c) In the same manner prescribed by Sections 403.093(c), | ||
| 825.404(e), and 825.4092(c), Government Code, and Section | ||
| 1575.210, Insurance Code, each month the comptroller shall transfer | ||
| from the general revenue fund to the appropriate trust fund of the | ||
| retirement system equal monthly installments of the contribution | ||
| required by Subsection (a) of this section. If the appropriation | ||
| provided by the legislature is different from the amount of state | ||
| contribution required under Subsection (a) of this section, the | ||
| comptroller, after the end of the fiscal year and in the same manner | ||
| prescribed by Section 403.093(c), Government Code, and Section | ||
| 1575.210, Insurance Code, shall make adjustments in the applicable | ||
| trust fund and the general revenue fund so that the total transfers | ||
| during the year equal the total amount of the state contribution | ||
| required for that year. | ||
| (d) Notwithstanding any other law, the contributions | ||
| required by this section do not increase or otherwise affect | ||
| contributions required or made under another law, including Section | ||
| 825.404, 825.4041, 825.405, 825.406, 825.407, or 825.4071, | ||
| Government Code. | ||
| SECTION 3. This Act takes effect September 1, 2023. | ||
