| 1 | 1 | | 87R14873 TYPED |
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| 2 | 2 | | By: Huffman S.B. No. 1823 |
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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 contributions to and benefits under the Teacher |
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| 8 | 8 | | Retirement 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 825.4035, Government Code, is amended by |
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| 11 | 11 | | amending Subsection (e) to read as follows: |
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| 12 | 12 | | (e) For purposes of Subsections (b)(3)(A) and (c)(3)(A), |
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| 13 | 13 | | the rate of contribution is: |
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| 14 | 14 | | (1) 1.5 percent beginning with the report month of |
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| 15 | 15 | | September 2019 and ending with the report month of August 2020; |
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| 16 | 16 | | (2) 1.6 percent beginning with the report month of |
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| 17 | 17 | | September 2020 and ending with the report month of August 2021; |
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| 18 | 18 | | (3) [1.7] 1.8 percent beginning with the report month |
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| 19 | 19 | | of September 2021 and ending with the report month of August 2022; |
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| 20 | 20 | | (4) 1.8 percent beginning with the report month of |
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| 21 | 21 | | September 2022 and ending with the report month of August 2023; |
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| 22 | 22 | | (5) 1.9 percent beginning with the report month of |
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| 23 | 23 | | September 2023 and ending with the report month of August 2024; and |
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| 24 | 24 | | (6) two percent beginning with the report month of |
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| 25 | 25 | | September 2024 and for each subsequent report month. |
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| 26 | 26 | | SECTION 2. This Act takes effect immediately if it receives |
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| 27 | 27 | | a vote of two-thirds of all the members elected to each house, as |
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| 28 | 28 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 29 | 29 | | Act does not receive the vote necessary for immediate effect, this |
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| 30 | 30 | | Act takes effect September 1, 2021. |
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