Texas 2009 - 81st Regular

Texas House Bill HB2455 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	81R9696 TJS-D
2	2	By: Eiland H.B. No. 2455
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to a one-time supplemental annuity payment by the
8	8	Employees Retirement System of Texas.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. (a) Subject to the availability of funds under
11	11	the American Recovery and Reinvestment Act of 2009 (Pub. L. No.
12	12	111-5) or other legislative appropriation, the Employees
13	13	Retirement System of Texas shall make a one-time supplemental
14	14	payment of a retirement or death benefit as provided by this
15	15	section.
16	16	(b) The supplemental payment is payable not later than
17	17	September 30, 2009, and, to the extent practicable, on a date or
18	18	dates that coincide with the regular annuity payment payable to
19	19	each eligible annuitant.
20	20	(c) The amount of the supplemental payment is equal to the
21	21	lesser of:
22	22	(1) the gross amount of the regular annuity payment to
23	23	which the eligible annuitant is otherwise entitled for the month of
24	24	August 2009; or
25	25	(2) $2,400.
26	26	(d) The Employees Retirement System of Texas shall make
27	27	applicable tax withholding and other legally required deductions
28	28	before disbursing the supplemental payment. A supplemental payment
29	29	under this section is in addition to and not in lieu of:
30	30	(1) the regular monthly annuity payment to which the
31	31	eligible annuitant is otherwise entitled; and
32	32	(2) any supplemental payment made under Section
33	33	814.603, Government Code.
34	34	(e) Subject to Subsection (f) of this section, to be
35	35	eligible for the supplemental payment, a person must be, for the
36	36	month of August 2009, an annuitant eligible to receive:
37	37	(1) a standard retirement annuity payment; or
38	38	(2) an optional retirement annuity payment as either a
39	39	retiree or beneficiary.
40	40	(f) If the annuitant is a retiree or a beneficiary under an
41	41	optional retirement payment plan, to be eligible for the
42	42	supplemental payment, the effective date of the retirement of the
43	43	member of the Employees Retirement System of Texas must have been on
44	44	or before December 31, 2008. The supplemental payment shall be made
45	45	to an alternate payee who is an annuitant under Section 804.005,
46	46	Government Code, only if the annuity payment to the alternate payee
47	47	commenced on or before December 31, 2008.
48	48	(g) The supplemental payment does not apply to members of
49	49	the elected class of the retirement system under Section 812.002,
50	50	Government Code.
51	51	(h) Except as provided by this section, the board of
52	52	trustees of the Employees Retirement System of Texas shall
53	53	determine the eligibility for and the amount and timing of a
54	54	supplemental payment and the manner in which the payment is made.
55	55	(i) The supplemental payment provided under this Act is
56	56	subject solely to the availability of funds appropriated for that
57	57	purpose, and does not depend on actuarial soundness of the fund or
58	58	any other condition provided by other law.
59	59	SECTION 2. This Act takes effect September 1, 2009.