| 1 | 1 | | 86R8836 LED-D |
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| 2 | 2 | | By: Menéndez S.B. No. 1862 |
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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 the state contribution to the Employees Retirement |
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| 8 | 8 | | System of Texas. |
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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 815.403(a), Government Code, is amended |
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| 11 | 11 | | to read as follows: |
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| 12 | 12 | | (a) During each fiscal year, the state shall contribute to |
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| 13 | 13 | | the retirement system: |
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| 14 | 14 | | (1) an amount equal to 11 [7.4] percent of the total |
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| 15 | 15 | | compensation of all members of the retirement system for that year; |
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| 16 | 16 | | (2) money to pay lump-sum death benefits for retirees |
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| 17 | 17 | | under Section 814.501; |
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| 18 | 18 | | (3) an amount for the law enforcement and custodial |
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| 19 | 19 | | officer supplemental retirement fund equal to 2.13 percent of the |
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| 20 | 20 | | aggregate state compensation of all custodial and law enforcement |
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| 21 | 21 | | officers for that year; |
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| 22 | 22 | | (4) money necessary for the administration of the law |
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| 23 | 23 | | enforcement and custodial officer supplemental retirement fund; |
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| 24 | 24 | | and |
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| 25 | 25 | | (5) money for service credit not previously |
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| 26 | 26 | | established, as provided by Section 813.202(c) or 813.302(d). |
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| 27 | 27 | | SECTION 2. This Act takes effect December 1, 2019, but only |
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| 28 | 28 | | if the voters approve the constitutional amendment proposed by the |
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| 29 | 29 | | 86th Legislature, Regular Session, 2019, authorizing an increase in |
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| 30 | 30 | | the maximum amount of the state's annual contribution to the |
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| 31 | 31 | | Employees Retirement System of Texas to 11 percent of the total |
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| 32 | 32 | | compensation paid to individuals participating in the system. If |
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| 33 | 33 | | that amendment is not approved by the voters, this Act has no |
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| 34 | 34 | | effect. |
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