| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 84R8549 KFF-D | |
| 2 | 2 | By: Lozano H.B. No. 2188 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the accrual of interest on lump-sum payments made to | |
| 8 | 8 | certain retirees who have resumed employment within the Texas | |
| 9 | 9 | Municipal Retirement System. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 852.108(j), Government Code, is amended | |
| 12 | 12 | to read as follows: | |
| 13 | 13 | (j) A person to whom this section applies shall receive a | |
| 14 | 14 | lump-sum payment in an amount equal to the sum of the service | |
| 15 | 15 | retirement annuity payments the person would have received had the | |
| 16 | 16 | person's annuity payments not been discontinued and suspended under | |
| 17 | 17 | this section, plus accumulated interest, if the person: | |
| 18 | 18 | (1) initially retired based on a bona fide termination | |
| 19 | 19 | of employment; and | |
| 20 | 20 | (2) resumed employment with the person's reemploying | |
| 21 | 21 | municipality at least eight years after the effective date of the | |
| 22 | 22 | person's retirement. | |
| 23 | 23 | SECTION 2. Section 852.108(j), Government Code, as amended | |
| 24 | 24 | by this Act, applies only to a lump-sum payment under that section | |
| 25 | 25 | that becomes due on or after the effective date of this Act. A | |
| 26 | 26 | lump-sum payment that becomes due before the effective date of this | |
| 27 | 27 | Act is governed by the law in effect on the date payment became due, | |
| 28 | 28 | and that law is continued in effect for that purpose. | |
| 29 | 29 | SECTION 3. This Act takes effect September 1, 2015. |