| 1 | 1 | | 84R21399 TSR-D |
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| 2 | 2 | | By: Fallon H.B. No. 3182 |
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| 3 | 3 | | Substitute the following for H.B. No. 3182: |
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| 4 | 4 | | By: Paul C.S.H.B. No. 3182 |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to the maximum service retirement annuity for members of |
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| 10 | 10 | | public retirement systems. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Chapter 810, Government Code, is amended by |
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| 13 | 13 | | adding Section 810.002 to read as follows: |
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| 14 | 14 | | Sec. 810.002. LIMIT ON AMOUNT OF SERVICE RETIREMENT |
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| 15 | 15 | | ANNUITY. (a) In this section, "public retirement system" has the |
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| 16 | 16 | | meaning assigned by Section 802.001. |
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| 17 | 17 | | (b) Notwithstanding any other law, the service retirement |
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| 18 | 18 | | annuity for service credit accrued by a member of a public |
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| 19 | 19 | | retirement system who becomes a member on or after September 1, |
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| 20 | 20 | | 2015, and is eligible to retire may not exceed the lesser of: |
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| 21 | 21 | | (1) the basic pay of a member of the United States |
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| 22 | 22 | | armed forces on active duty at the highest salary for pay grade O-10 |
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| 23 | 23 | | as defined by 37 U.S.C. Section 201(a); or |
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| 24 | 24 | | (2) the annual rate of basic pay for a position under |
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| 25 | 25 | | level II of the Executive Schedule as defined by 5 U.S.C. Section |
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| 26 | 26 | | 5313. |
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| 27 | 27 | | SECTION 2. This Act takes effect September 1, 2015. |
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