| 1 | 1 | | 81R7420 KCR-D |
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| 2 | 2 | | By: McClendon H.B. No. 3504 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the cost of health insurance for certain retirees of the |
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| 8 | 8 | | Teacher Retirement System of Texas. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter E, Chapter 1575, Insurance Code, is |
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| 11 | 11 | | amended by adding Section 1575.214 to read as follows: |
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| 12 | 12 | | Sec. 1575.214. TEMPORARY PREMIUM REDUCTION. (a) The |
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| 13 | 13 | | trustee shall adopt rules that result in a monthly contribution |
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| 14 | 14 | | reduction for retirees in an amount that does not exceed the amount |
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| 15 | 15 | | of a retiree's monthly contribution and is equal to the greater of: |
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| 16 | 16 | | (1) $175 per month per retiree; or |
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| 17 | 17 | | (2) 20 percent of a retiree's monthly contribution. |
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| 18 | 18 | | (b) This section expires September 1, 2013. |
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| 19 | 19 | | SECTION 2. The Teacher Retirement System of Texas shall |
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| 20 | 20 | | adopt the rules required by Section 1575.214, Insurance Code, as |
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| 21 | 21 | | added by this Act, not later than September 1, 2009. |
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| 22 | 22 | | SECTION 3. This Act takes effect immediately if it receives |
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| 23 | 23 | | a vote of two-thirds of all the members elected to each house, as |
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| 24 | 24 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 25 | 25 | | Act does not receive the vote necessary for immediate effect, this |
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| 26 | 26 | | Act takes effect September 1, 2009. |
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