By: Hughes H.B. No. 3525
A BILL TO BE ENTITLED
AN ACT
relating to the service retirement annuity of certain members of
the Judicial Retirement System of Texas Plan One and the Judicial
Retirement System of Texas Plan Two.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 834.102(c), Government Code, is amended
to read as follows:
(c) The service retirement annuity of a member qualifying
for retirement under Section 834.101(a) is the applicable state
salary under Subsection (a), multiplied by a percentage amount that
is the sum of 50 percent plus the product of 2.3 percent multiplied
by the number of years of subsequent service credit the member
accrues under Section 835.1015(a). After including any increase
under Subsection (b), the service retirement annuity under this
subsection may not be an amount that is greater than 100 [90]
percent of the applicable salary under Subsection (a).
SECTION 2. Sections 839.102(d) and (f), Government Code,
are amended to read as follows:
(d) The service retirement annuity of a member qualifying
for retirement under Section 839.101(a) is the applicable state
salary under Subsection (a) multiplied by a percentage amount that
is the sum of 50 percent plus the product of 2.3 percent multiplied
by the number of years of subsequent service credit the member
accrues under Section 840.1025(a). After including any increase
under Subsection (b), the service retirement annuity under this
subsection may not be an amount that is greater than 100 [90]
percent of the applicable salary under Subsection (a).
(f) The service retirement annuity of a member qualifying
for retirement under Section 839.101(a)(4) is the applicable state
salary under Subsection (a) multiplied by a percentage amount that
is the sum of 50 percent plus the product of 2.3 percent multiplied
by the number of years of subsequent service credit the member
accrues under Section 840.1027. After including any increase
under Subsection (b), the service retirement annuity under this
subsection may not be an amount that is greater than 100 [90]
percent of the applicable salary under Subsection (a).
SECTION 3. The changes in law made by this Act apply only to
a member of the Judicial Retirement System of Texas Plan One or the
Judicial Retirement System of Texas Plan Two who retires on or after
the effective date of this Act. A member who retires before the
effective date of this Act is governed by the law in effect
immediately before that date, and the former law is continued in
effect for that purpose.
SECTION 4. This Act takes effect September 1, 2013.