By: Watson S.B. No. 1917
A BILL TO BE ENTITLED
AN ACT
relating to contributions to the Employees Retirement System of
Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 815.402(a), Government Code is amended
to read as follows:
(a) Except as provided by Section 813.201, each payroll
period, each department or agency of the state shall cause to be
deducted from each member's compensation a contribution of:
(1) 8.0 [6.6 percent of the compensation if the member
is not a member of the legislature, for service rendered after
August 31, 2013, and before September 1, 2014;
[(2) 6.9 percent of the compensation if the member is
not a member of the legislature, for service rendered after August
31, 2014, and before September 1, 2015;
[(3) 7.2] percent of the compensation if the member is not a
member of the legislature, for service rendered after August 31,
2015, and before September 1, 2017 [2016];
(2) [(4) 7.5 percent of the compensation if the member
is not a member of the legislature, for service rendered after
August 31, 2016;
[(5)] for service by a member who is not a member of the
legislature rendered on or after September 1, 2017, the lesser of:
(A) 8.0 [7.5] percent of the member's annual
compensation; or
(B) a percentage of the member's annual
compensation equal to 8.0 [7.5] percent reduced by one-tenth of one
percent for each one-tenth of one percent that the state
contribution rate for the fiscal year to which the service relates
is less than the state contribution rate established for the 2017
[2015] fiscal year; or
(3) [(6)] eight percent of the compensation if the
member is a member of the legislature.
SECTION 2. Section 815.403(a)(1), Government Code is
amended to read as follows:
(1) an amount equal to 10.0 [7.4] percent of the total
compensation of all members of the retirement system for that year;
SECTION 3. Section 815.4035(a), Government Code is amended
to read as follows:
Sec. 815.4035. COLLECTION OF STATE RETIREMENT
CONTRIBUTION. (a) Except as provided by Section 813.201, the board
of trustees shall assess each employer whose employees are members
of the retirement system a state retirement contribution in an
amount equal to 1.0 [0.5] percent of the employer's total payroll,
as determined by the General Appropriations Act.
SECTION 4. This Act takes effect September 1, 2015.