| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 81R7439 KFF-D | |
| 2 | 2 | By: McClendon H.B. No. 2137 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to computation of the standard service annuity under the | |
| 8 | 8 | Teacher Retirement System of Texas. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 824.203, Government Code, is amended by | |
| 11 | 11 | adding Subsection (a-1) to read as follows: | |
| 12 | 12 | (a-1) Notwithstanding Subsection (a) and except as provided | |
| 13 | 13 | by Subsections (c) and (d), the standard service retirement annuity | |
| 14 | 14 | for a member who retires on or after September 1, 2009, but before | |
| 15 | 15 | September 1, 2014, is an amount computed on the basis of the | |
| 16 | 16 | member's average annual compensation for the three years of | |
| 17 | 17 | service, whether or not consecutive, in which the member received | |
| 18 | 18 | the highest annual compensation, times 2.3 percent for each year of | |
| 19 | 19 | service credit in the retirement system. This subsection expires | |
| 20 | 20 | September 1, 2014. | |
| 21 | 21 | SECTION 2. This Act takes effect September 1, 2009. |