By: Watson S.B. No. 1286
(Rodriguez)
Substitute the following for S.B. No. 1286: No.
A BILL TO BE ENTITLED
AN ACT
relating to the funding of retirement systems for firefighters in
certain municipalities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsections (a) and (b), Section 10.01, Chapter
183 (S.B. 598), Acts of the 64th Legislature, Regular Session, 1975
(Article 6243e.1, Vernon's Texas Civil Statutes), are amended to
read as follows:
(a) Each municipality in which a fire department to which
this Act applies is located shall appropriate and contribute to the
fund an amount equal to a percentage [18.05 percent] of the
compensation of all members during that month as follows:
(1) 19.05 percent, beginning on the first pay date
following September 30, 2010, through the pay date immediately
preceding September 30, 2011;
(2) 20.05 percent, beginning on the first pay date
following September 30, 2011, through the pay date immediately
preceding September 30, 2012;
(3) 21.05 percent, for 24 pay dates of the
municipality beginning on the first pay date following September
30, 2012; and
(4) 22.05 percent, for all pay dates of the
municipality that follow the 24 pay dates referenced in Subdivision
(3) of this subsection.
(b) Each firefighter shall pay into the fund each month a
percentage [13.70 percent] of the firefighter's compensation for
that month as follows:
(1) 15.70 percent, for the pay dates of the
municipality following September 30, 2010, through the pay date
immediately preceding September 30, 2011;
(2) 16.20 percent, beginning on the first pay date of
the municipality following September 30, 2011, through the pay date
immediately preceding September 30, 2012;
(3) 16.70 percent, beginning on the first pay date of
the municipality following September 30, 2012, through the pay date
immediately preceding September 30, 2013;
(4) 17.20 percent, beginning on the first pay date of
the municipality following September 30, 2013, through the pay date
immediately preceding September 30, 2014;
(5) 17.70 percent, beginning on the first pay date of
the municipality following September 30, 2014, through the pay date
immediately preceding September 30, 2015;
(6) 18.20 percent, beginning on the first pay date of
the municipality following September 30, 2015, through the pay date
immediately preceding September 30, 2016; and
(7) 18.70 percent, for the first pay date of the
municipality following September 30, 2016, and all subsequent pay
dates of the municipality.
SECTION 2. This Act takes effect September 1, 2011.