By: Guillen H.B. No. 4622
A BILL TO BE ENTITLED
AN ACT
relating to alternative contributions to the Employee Retirement
System of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 813, Government Code, is
amended by adding Section 813.105 to read as follows:
Sec. 813.105. ALTERNATIVE CONTRIBUTION METHODS TO
ESTABLISH OR REESTABLISH SERVICE CREDIT. (a) The board of trustees
shall adopt rules to provide procedures to establish or reestablish
credit in the retirement system for an eligible retired member to
make contributions to the retired member's individual account for
the purposes of:
(1) designating funds for contributions to the
member's individual account as an employee or employer;
(2) supplementing contributions made by a member prior
to retirement;
(3) reconsideration of the calculation of the 36
highest months of pay; and
(4)
reconsideration of the calculation of the retired
member's monthly retirement annuity.
(b) This section only applies to an eligible retired member
if they have an agreement with the State of Texas to establish or
reestablish credit prior to January 1st of 2019.
(c) The board of trustees shall adopt rules to administer
this section, including rules that impose restrictions on the
application of this section as necessary to cost-effectively
administer this section.
SECTION 2. This Act takes effect September 1, 2019.