Bill Text: TX HB548 | 2023-2024 | 88th Legislature | Introduced


Bill Title: Relating to a supplemental payment for retirees of the Employees Retirement System of Texas.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-02-23 - Referred to Pensions, Investments & Financial Services [HB548 Detail]

Download: Texas-2023-HB548-Introduced.html
  88R1909 JCG-D
 
  By: Vasut H.B. No. 548
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to a supplemental payment for retirees of the Employees
  Retirement System of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  (a)  From funds appropriated for this purpose,
  the Employees Retirement System of Texas shall make a one-time
  supplemental payment of a retirement or death benefit, as provided
  by this section.
         (b)  A supplemental payment is payable in January 2024, and,
  to the extent practicable, on a date or dates that coincide with the
  regular annuity payment payable to each eligible annuitant.
         (c)  The amount of the supplemental payment is equal to the
  lesser of:
               (1)  $2,000; or
               (2)  the gross amount of the regular annuity payment to
  which the eligible annuitant is otherwise entitled for the month of
  December 2023.
         (d)  The Employees Retirement System of Texas shall make
  applicable tax withholding and other legally required deductions
  before disbursing the supplemental payment. A supplemental payment
  under this section is in addition to and not in lieu of the regular
  monthly annuity payment to which the eligible annuitant is
  otherwise entitled.
         (e)  Subject to Subsections (f) and (g) of this section, to
  be eligible for the supplemental payment, a person must be, for the
  month of December 2023, an annuitant eligible to receive:
               (1)  a standard retirement annuity payment;
               (2)  an optional service retirement annuity payment as
  either a retiree or beneficiary under Section 814.108, Government
  Code;
               (3)  a standard or occupational disability retirement
  annuity payment;
               (4)  a death benefit annuity payment under Section
  814.305, Government Code; or
               (5)  an alternate payee annuity payment under Section
  804.005, Government Code.
         (f)  If the annuitant is a retiree or a beneficiary under an
  optional retirement payment plan, to be eligible for the
  supplemental payment, the effective date of the retirement of the
  member of the Employees Retirement System of Texas must have been on
  or before September 1, 2022. The supplemental payment shall be made
  to an alternate payee who is an annuitant under Section 804.005,
  Government Code, only if the annuity payment to the alternate payee
  commenced on or before September 1, 2022.  The supplemental payment
  is in addition to the guaranteed number of payments under Section
  814.108, Government Code, and may not be counted as one of the
  guaranteed monthly payments.
         (g)  The supplemental payment does not apply to payments
  under:
               (1)  Section 814.103 or 814.205, Government Code,
  relating to retirees or disability retirees from the elected class
  of membership;
               (2)  a subtitle other than Subtitle B, Title 8,
  Government Code, except as provided by Subsection (e)(5) of this
  section; or
               (3)  Section 814.304, Government Code, relating to
  retiree survivor beneficiaries who receive a survivor annuity as
  the surviving spouse of a member of the elected class.
         (h)  Except as provided by this section, the board of
  trustees of the Employees Retirement System of Texas shall
  determine the eligibility for and the amount and timing of a
  supplemental payment and the manner in which the payment is made.
         (i)  The supplemental payment is subject solely to the
  availability of appropriated funds.  The supplemental payment must
  comply with Section 811.006, Government Code.
         SECTION 2.  This Act takes effect September 1, 2023.
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