By: Paxton S.B. No. 1436
(Hughes)
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.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsection (c), Section 834.102, 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. The changes in law made by this Act apply only to
a member of the Judicial Retirement System of Texas Plan One 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 3. This Act takes effect September 1, 2013.