| 1 | 1 | | 85S10848 LED-D |
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| 2 | 2 | | By: Rodriguez of Bexar H.B. No. 321 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to required state contributions to the Teacher Retirement |
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| 8 | 8 | | System of Texas; making an appropriation. |
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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 1575.202(a), Insurance Code, as |
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| 11 | 11 | | effective September 1, 2017, is amended to read as follows: |
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| 12 | 12 | | (a) Each state fiscal year, the state shall contribute to |
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| 13 | 13 | | the fund an amount equal to a percentage [1.25 percent] of the |
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| 14 | 14 | | salary of each active employee as follows: |
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| 15 | 15 | | (1) for the 2018 and 2019 fiscal years, two percent; |
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| 16 | 16 | | (2) for the 2020 and 2021 fiscal years, 2.5 percent; |
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| 17 | 17 | | (3) for the 2022 and 2023 fiscal years, three percent; |
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| 18 | 18 | | (4) for the 2024 and 2025 fiscal years, 3.5 percent; |
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| 19 | 19 | | (5) for the 2026 and 2027 fiscal years, four percent; |
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| 20 | 20 | | (6) for the 2028 and 2029 fiscal years, 4.5 percent; |
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| 21 | 21 | | (7) for the 2030 and 2031 fiscal years, five percent; |
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| 22 | 22 | | (8) for the 2032 and 2033 fiscal years, 5.5 percent; |
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| 23 | 23 | | and |
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| 24 | 24 | | (9) for the 2034 fiscal year, and each subsequent |
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| 25 | 25 | | fiscal year, six percent. |
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| 26 | 26 | | SECTION 2. In addition to amounts previously appropriated |
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| 27 | 27 | | in S.B. 1, Acts of the 85th Legislature, Regular Session, 2017 (the |
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| 28 | 28 | | General Appropriations Act), to the Teacher Retirement System of |
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| 29 | 29 | | Texas for the state fiscal biennium ending August 31, 2019, for |
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| 30 | 30 | | Strategy A.2.1, Retiree Health - Statutory Funds, the amount of |
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| 31 | 31 | | $485.7 million is appropriated from the economic stabilization fund |
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| 32 | 32 | | to the Teacher Retirement System of Texas for the state fiscal year |
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| 33 | 33 | | ending August 31, 2018, for the purpose of making the state |
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| 34 | 34 | | contribution required by Section 1575.202, Insurance Code, as |
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| 35 | 35 | | amended by this Act, for that fiscal year. |
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| 36 | 36 | | SECTION 3. (a) Subject to Subsection (b) of this section: |
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| 37 | 37 | | (1) this Act takes effect immediately if it receives a |
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| 38 | 38 | | vote of two-thirds of all the members elected to each house, as |
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| 39 | 39 | | provided by Section 39, Article III, Texas Constitution; and |
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| 40 | 40 | | (2) if this Act does not receive the vote necessary for |
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| 41 | 41 | | immediate effect, this Act takes effect on the 91st day after the |
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| 42 | 42 | | last day of the legislative session. |
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| 43 | 43 | | (b) This Act takes effect only if it receives a vote of |
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| 44 | 44 | | two-thirds of the members present in each house of the legislature, |
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| 45 | 45 | | as provided by Section 49-g(m), Article III, Texas Constitution. |
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