| 1 | 1 | | By: Guillen H.B. No. 4622 |
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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 alternative contributions to the Employee Retirement |
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| 7 | 7 | | System of Texas. |
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| 8 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 9 | | SECTION 1. Subchapter B, Chapter 813, Government Code, is |
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| 10 | 10 | | amended by adding Section 813.105 to read as follows: |
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| 11 | 11 | | Sec. 813.105. ALTERNATIVE CONTRIBUTION METHODS TO |
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| 12 | 12 | | ESTABLISH OR REESTABLISH SERVICE CREDIT. (a) The board of trustees |
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| 13 | 13 | | shall adopt rules to provide procedures to establish or reestablish |
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| 14 | 14 | | credit in the retirement system for an eligible retired member to |
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| 15 | 15 | | make contributions to the retired member's individual account for |
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| 16 | 16 | | the purposes of: |
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| 17 | 17 | | (1) designating funds for contributions to the |
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| 18 | 18 | | member's individual account as an employee or employer; |
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| 19 | 19 | | (2) supplementing contributions made by a member prior |
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| 20 | 20 | | to retirement; |
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| 21 | 21 | | (3) reconsideration of the calculation of the 36 |
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| 22 | 22 | | highest months of pay; and |
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| 23 | 23 | | (4) |
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| 24 | 24 | | reconsideration of the calculation of the retired |
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| 25 | 25 | | member's monthly retirement annuity. |
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| 26 | 26 | | (b) This section only applies to an eligible retired member |
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| 27 | 27 | | if they have an agreement with the State of Texas to establish or |
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| 28 | 28 | | reestablish credit prior to January 1st of 2019. |
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| 29 | 29 | | (c) The board of trustees shall adopt rules to administer |
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| 30 | 30 | | this section, including rules that impose restrictions on the |
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| 31 | 31 | | application of this section as necessary to cost-effectively |
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| 32 | 32 | | administer this section. |
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| 33 | 33 | | SECTION 2. This Act takes effect September 1, 2019. |
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