| 1 | 1 | | 87R2228 KFF-F |
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| 2 | 2 | | By: Creighton S.B. No. 803 |
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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 certain increases in benefits under the firefighters' |
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| 8 | 8 | | relief and retirement fund in certain municipalities. |
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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 11(c), Article 6243e.2(1), Revised |
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| 11 | 11 | | Statutes, is amended to read as follows: |
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| 12 | 12 | | (c) Subject to Subsection (c-3) of this section and except |
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| 13 | 13 | | as provided by Subsection (c-4) of this section, beginning with the |
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| 14 | 14 | | fiscal year ending June 30, 2021, the benefits, including survivor |
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| 15 | 15 | | benefits, payable based on the service of a member who has |
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| 16 | 16 | | terminated active service and who is or would have been at least 55 |
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| 17 | 17 | | years old, terminated active service under Section 4 of this |
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| 18 | 18 | | article before July 1, 2017, and is or would have been at least 48 |
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| 19 | 19 | | years old, received or is receiving an on-duty disability pension |
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| 20 | 20 | | under Section 6(c) of this article, or died under the conditions |
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| 21 | 21 | | described by Section 7(c) of this article, shall be increased in |
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| 22 | 22 | | October of each year by a percentage rate equal to the most recent |
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| 23 | 23 | | five fiscal years' smoothed return, as determined by the fund |
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| 24 | 24 | | actuary, minus 475 basis points. |
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| 25 | 25 | | SECTION 2. This Act takes effect immediately if it receives |
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| 26 | 26 | | a vote of two-thirds of all the members elected to each house, as |
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| 27 | 27 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 28 | 28 | | Act does not receive the vote necessary for immediate effect, this |
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| 29 | 29 | | Act takes effect September 1, 2021. |
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