87R14873 TYPED
By: Huffman S.B. No. 1823
A BILL TO BE ENTITLED
AN ACT
relating to the contributions to and benefits under the Teacher
Retirement System of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 825.4035, Government Code, is amended by
amending Subsection (e) to read as follows:
(e) For purposes of Subsections (b)(3)(A) and (c)(3)(A),
the rate of contribution is:
(1) 1.5 percent beginning with the report month of
September 2019 and ending with the report month of August 2020;
(2) 1.6 percent beginning with the report month of
September 2020 and ending with the report month of August 2021;
(3) [1.7] 1.8 percent beginning with the report month
of September 2021 and ending with the report month of August 2022;
(4) 1.8 percent beginning with the report month of
September 2022 and ending with the report month of August 2023;
(5) 1.9 percent beginning with the report month of
September 2023 and ending with the report month of August 2024; and
(6) two percent beginning with the report month of
September 2024 and for each subsequent report month.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2021.