| 1 | 1 | | By: Fallon H.B. No. 3461 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to the standard service retirement annuity for certain |
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| 7 | 7 | | members of the elected class of the Employees Retirement System of |
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| 8 | 8 | | Texas. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 814.103, Government Code, is amended by |
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| 11 | 11 | | amending Subsection (a) and adding Subsection (c) to read as |
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| 12 | 12 | | follows: |
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| 13 | 13 | | ( |
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| 14 | 14 | | a) Except as provided by Subsections [Subsection] (b) and |
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| 15 | 15 | | (c), the standard service retirement annuity for service credited |
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| 16 | 16 | | in the elected class of membership is an amount equal to the number |
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| 17 | 17 | | of years of service credit in that class, times two percent of the |
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| 18 | 18 | | state salary, excluding longevity pay payable under Section |
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| 19 | 19 | | 659.0445 and as adjusted from time to time, being paid a district |
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| 20 | 20 | | judge. |
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| 21 | 21 | | (c) The standard service retirement annuity for service |
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| 22 | 22 | | credited in the elected class of membership all of which was earned |
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| 23 | 23 | | as a member of the legislature is an amount equal to the number of |
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| 24 | 24 | | years of service credit in that class, times two percent of |
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| 25 | 25 | | $140,000. |
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| 26 | 26 | | SECTION 2. The change in law made by this Act applies only |
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| 27 | 27 | | to the standard service retirement annuity for a person who is first |
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| 28 | 28 | | eligible to become a member of the elected class on or after |
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| 29 | 29 | | September 1, 2015. A person who is first eligible to become a |
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| 30 | 30 | | member of the elected class before the effective date of this Act is |
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| 31 | 31 | | governed by the law in effect immediately before the effective date |
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| 32 | 32 | | of this Act, and the former law is continued in effect for that |
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| 33 | 33 | | purpose. |
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| 34 | 34 | | SECTION 3. This Act takes effect September 1, 2015. |
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