| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Paxton S.B. No. 1436 | |
| 2 | 2 | (Hughes) | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the service retirement annuity of certain members of | |
| 8 | 8 | the Judicial Retirement System of Texas Plan One. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subsection (c), Section 834.102, Government | |
| 11 | 11 | Code, is amended to read as follows: | |
| 12 | 12 | (c) The service retirement annuity of a member qualifying | |
| 13 | 13 | for retirement under Section 834.101(a) is the applicable state | |
| 14 | 14 | salary under Subsection (a), multiplied by a percentage amount that | |
| 15 | 15 | is the sum of 50 percent plus the product of 2.3 percent multiplied | |
| 16 | 16 | by the number of years of subsequent service credit the member | |
| 17 | 17 | accrues under Section 835.1015(a). After including any increase | |
| 18 | 18 | under Subsection (b), the service retirement annuity under this | |
| 19 | 19 | subsection may not be an amount that is greater than 100 [90] | |
| 20 | 20 | percent of the applicable salary under Subsection (a). | |
| 21 | 21 | SECTION 2. The changes in law made by this Act apply only to | |
| 22 | 22 | a member of the Judicial Retirement System of Texas Plan One who | |
| 23 | 23 | retires on or after the effective date of this Act. A member who | |
| 24 | 24 | retires before the effective date of this Act is governed by the law | |
| 25 | 25 | in effect immediately before that date, and the former law is | |
| 26 | 26 | continued in effect for that purpose. | |
| 27 | 27 | SECTION 3. This Act takes effect September 1, 2013. |