86R4446 LED-D
By: Canales H.J.R. No. 84
A JOINT RESOLUTION
proposing a constitutional amendment to increase the minimum amount
that the state may contribute to the Employees Retirement System of
Texas and the Teacher Retirement System of Texas.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 67(b)(3), Article XVI, Texas
Constitution, is amended to read as follows:
(3) The amount contributed by a person participating
in the Employees Retirement System of Texas or the Teacher
Retirement System of Texas shall be established by the legislature
but may not be less than six percent of current compensation. The
amount contributed by the state may not be less than seven [six]
percent nor more than 10 percent of the aggregate compensation paid
to individuals participating in the system. In an emergency, as
determined by the governor, the legislature may appropriate such
additional sums as are actuarially determined to be required to
fund benefits authorized by law.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 5, 2019.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment to improve the
actuarial soundness of the Employees Retirement System of Texas and
the Teacher Retirement System of Texas by authorizing an increase
in the minimum amount of the state's annual contribution to the
Employees Retirement System of Texas and the Teacher Retirement
System of Texas from six to seven percent of the total compensation
paid to individuals participating in the system."