87R9095 JCG-F
By: Huffman S.J.R. No. 53
A JOINT RESOLUTION
proposing a constitutional amendment authorizing the legislature
to make certain appropriations 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 six percent nor
more than 10 percent of the aggregate compensation paid to
individuals participating in the system. The legislature may
appropriate sums in excess of 10 percent of the aggregate
compensation paid to individuals participating in the system for
the purpose of reducing the unfunded liability of the Employees
Retirement System of Texas or the Teacher Retirement System of
Texas. 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 2, 2021.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment permitting the
legislature to make appropriations to certain state retirement
systems to reduce the unfunded liability of the systems."