84R4914 LED-D
By: Lozano H.B. No. 1298
A BILL TO BE ENTITLED
AN ACT
relating to required state contributions to the Teacher Retirement
System of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1575.202(a), Insurance Code, is amended
to read as follows:
(a) Each state fiscal year, the state shall contribute to
the fund an amount according to the following schedule:
(1) for the 2016-2017 plan year, an amount equal to
2.23 [one] percent of the salary of each active employee; and
(2) for the 2018-2019 plan year, and each plan year
thereafter, an amount equal to 3.19 percent of the salary of each
active employee.
SECTION 2. This Act takes effect September 1, 2015.