84R8549 KFF-D
By: Lozano H.B. No. 2188
A BILL TO BE ENTITLED
AN ACT
relating to the accrual of interest on lump-sum payments made to
certain retirees who have resumed employment within the Texas
Municipal Retirement System.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 852.108(j), Government Code, is amended
to read as follows:
(j) A person to whom this section applies shall receive a
lump-sum payment in an amount equal to the sum of the service
retirement annuity payments the person would have received had the
person's annuity payments not been discontinued and suspended under
this section, plus accumulated interest, if the person:
(1) initially retired based on a bona fide termination
of employment; and
(2) resumed employment with the person's reemploying
municipality at least eight years after the effective date of the
person's retirement.
SECTION 2. Section 852.108(j), Government Code, as amended
by this Act, applies only to a lump-sum payment under that section
that becomes due on or after the effective date of this Act. A
lump-sum payment that becomes due before the effective date of this
Act is governed by the law in effect on the date payment became due,
and that law is continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2015.