By: Rodriguez H.B. No. 1979
A BILL TO BE ENTITLED
AN ACT
relating to retirement under public retirement systems for
employees of certain municipalities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2(32), (33), Chapter 834, Acts of the
76th Legislature, Regular Session, 1999 (Article 6243n, Vernon's
Texas Civil Statutes) are amended to read as follows:
(32) "Normal retirement age" means:
(A) age 62; [or]
(B) 55 years of age with 20 years of creditable
service; or
(C) 23 years of creditable service, regardless of
years of age.
(33) "Normal retirement date" means the earlier of the
date a member attains a normal retirement age or the date on which
the member has completed 23 [25] years of creditable service or a
lesser number of years of creditable service established by the
retirement board under Section 10(g) of this Act.
SECTION 2. Section 9(p), Chapter 834, Acts of the 76th
Legislature, Regular Session, 1999 (Article 6243n, Vernon's Texas
Civil Statutes), is amended to read as follows:
(p) A member who retires after reaching normal retirement
age and continues or resumes employment with the employer in a
position that is required to participate in another retirement
system is entitled to continue to receive the retirement allowance
paid under this article. A retired member who resumes regular
full-time employment with an employer in a position that is not
required to participate in another retirement system sponsored by
the employer automatically resumes membership as an active
contributory member, and the retirement board shall terminate the
person's retirement allowance. The retirement allowance of a
retired member shall be suspended if the member is employed by an
employer in a position in which the employee is required to
participate in the retirement system for at least six months of any
consecutive 12 calendar months and works, is budgeted, or is
compensated for more than 29 hours in a calendar week. When the
person again retires, the retirement system shall compute the
benefit based on service before and after the initial retirement.
The resulting benefit is reduced actuarially to reflect the value
of the benefits received before the resumption of full-time
employment.
SECTION 3. 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 October 1, 2009.