By: Longoria H.B. No. 3588
A BILL TO BE ENTITLED
AN ACT
relating to annuities of certain annuitants of the Judicial
Retirement System Plan Two.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 839.102(a), Government Code, as amended
by Acts 2005, 79th Leg., R.S., Ch. 1033 (H.B. 1114), Sec. 6, is
amended to read as follows:
(a) Except as provided by Subsections (b), (c), [and] (d),
(f), and (g), the standard service retirement annuity is an amount
equal to 50 percent of the state salary being paid at the time the
member retires to a judge of a court of the same classification as
the last court to which the retiring member was elected or
appointed.
SECTION 2. Section 839.102, Government Code, is amended by
adding Subsection (g) to read as follows.
(g) A person earning a service retirement annuity based on
the state salary being paid at the time the member retired is
entitled to have the person’s annuity recalculated based on the
state salary, as it existed on January 1, 2017, being paid to a
judge of a court of the same classification as the last court to
which the retiring member was elected or appointed. After including
any increase under this subsection, the recalculated service
retirement annuity may not be an amount that is greater than 90
percent of that state salary being paid on January 1, 2017. An
annuitant is only entitled to an adjustment under this subsection
on a finding by the board of trustees that, as determined by an
actuarial valuation:
(1) the amortization period for the unfunded actuarial
liabilities of the retirement system does not exceed 30 years by one
or more years; and
(2) as a result of paying the adjustment, the time
required to amortize the unfunded actuarial liabilities of the
retirement system would not be increased to a period that exceeds 30
years by one or more years.
SECTION 3. Section 839.102(a), Government Code, as amended
by Acts 2005, 79th Leg.,
R.S., Ch. 1203 (H.B. 617), Sec. 3, is
repealed.
SECTION 4. This Act takes effect September 1, 2017.