82R348 KFF-D
By: Raymond H.B. No. 159
A BILL TO BE ENTITLED
AN ACT
relating to the resumption of employment by certain retirees within
the Texas Municipal Retirement System.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 852.108(h), Government Code, is amended
to read as follows:
(h) The additional service retirement benefit allowable to
a person to whom this section applies is, at the option of that
person, either:
(1) a refund of accumulated contributions made since
reemployment plus any accrued interest on the accumulated
contributions allowed by the retirement system; or
(2) a benefit consisting of:
(A) a basic annuity actuarially determined from
the sum of the member's deposits made and accumulated since the date
the person last became a member, together with interest accumulated
on that amount since the person last became a member and, if the
period between the person's original date of retirement under this
subtitle and the date the person last became a member is at least
five years, an amount from the municipality accumulation fund equal
to the amount of the deposits credited to the member's individual
account since the person last became a member together with
interest accumulated on that amount since the person last became a
member; or
(B) a greater amount authorized by the
municipality under Section 855.501.
SECTION 2. The change in law made by this Act applies only
to a member of the Texas Municipal Retirement System who terminates
employment with the person's reemploying municipality on or after
the effective date of this Act. A member who terminates employment
with the person's reemploying municipality before the effective
date of this Act is governed by the law as it existed immediately
before that date, and the former law is continued in effect for that
purpose.
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 September 1, 2011.