Texas 2021 - 87th 1st C.S.

Texas House Bill HB85 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		87S10229 BDP-F
2		-	By: Rogers~~, Ashby, Darby, Perez, et al.~~ H.B. No. 85
	2	+	By: Rogers H.B. No. 85
3	3
4	4
5	5		A BILL TO BE ENTITLED
6	6		AN ACT
7	7		relating to a one-time supplemental payment of benefits under the
8	8		Teacher Retirement System of Texas.
9	9		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10		SECTION 1. (a) Subject to Section 821.006, Government
11	11		Code, the Teacher Retirement System of Texas shall make a one-time
12	12		supplemental payment of a retirement or death benefit, as provided
13	13		by this section.
14	14		(b) The supplemental payment is payable not later than
15	15		January 2022 and, to the extent practicable, on a date or dates that
16	16		coincide with the regular annuity payment payable to each eligible
17	17		annuitant.
18	18		(c) The amount of the supplemental payment is equal to the
19	19		lesser of:
20	20		(1) the gross amount of the regular annuity payment to
21	21		which the eligible annuitant is otherwise entitled for the calendar
22	22		month immediately prior to the calendar month in which the Teacher
23	23		Retirement System of Texas issues the one-time supplemental payment
24	24		in accordance with Subsection (b) of this section; or
25	25		(2) $2,400.
26	26		(d) The supplemental payment is payable without regard to
27	27		any forfeiture of benefits under Section 824.601, Government Code.
28	28		The Teacher Retirement System of Texas shall make applicable tax
29	29		withholding and other legally required deductions before
30	30		disbursing the supplemental payment. A supplemental payment under
31	31		this section is in addition to and not in lieu of the regular
32	32		monthly annuity payment to which the eligible annuitant is
33	33		otherwise entitled.
34	34		(e) Subject to Subsection (f) of this section, to be
35	35		eligible for the supplemental payment, a person must be, for the
36	36		calendar month immediately prior to the calendar month in which the
37	37		Teacher Retirement System of Texas issues the one-time supplemental
38	38		payment in accordance with Subsection (b) of this section, and
39	39		disregarding any forfeiture of benefits under Section 824.601,
40	40		Government Code, an annuitant eligible to receive:
41	41		(1) a standard retirement annuity payment;
42	42		(2) an optional retirement annuity payment as either a
43	43		retiree or beneficiary;
44	44		(3) a life annuity payment under Section
45	45		824.402(a)(4), Government Code;
46	46		(4) an annuity for a guaranteed period of 60 months
47	47		under Section 824.402(a)(3), Government Code; or
48	48		(5) an alternate payee annuity payment under Section
49	49		804.005, Government Code.
50	50		(f) If the annuitant is a retiree or a beneficiary under an
51	51		optional retirement payment plan, to be eligible for the
52	52		supplemental payment, the effective date of the retirement of the
53	53		member of the Teacher Retirement System of Texas must have been on
54	54		or before December 31, 2020. If the annuitant is a beneficiary
55	55		under Section 824.402(a)(3) or (4), Government Code, to be eligible
56	56		for the supplemental payment, the date of death of the member of the
57	57		retirement system must have been on or before December 31, 2018.
58	58		The supplemental payment shall be made to an alternate payee who is
59	59		an annuitant under Section 804.005, Government Code, only if the
60	60		annuity payment to the alternate payee commenced on or before
61	61		December 31, 2020. The supplemental payment is in addition to the
62	62		guaranteed number of payments under Section 824.204(c)(3) or (4),
63	63		Section 824.308(c)(3) or (4), or Section 824.402(a)(3), Government
64	64		Code, and may not be counted as one of the guaranteed monthly
65	65		payments.
66	66		(g) The supplemental payment does not apply to payments
67	67		under:
68	68		(1) Section 824.304(a), Government Code, relating to
69	69		disability retirees with less than 10 years of service credit;
70	70		(2) Section 824.804(b), Government Code, relating to
71	71		participants in the deferred retirement option plan with regard to
72	72		payments from their deferred retirement option plan accounts;
73	73		(3) Section 824.501(a), Government Code, relating to
74	74		retiree survivor beneficiaries who receive a survivor annuity in an
75	75		amount fixed by statute; or
76	76		(4) Section 824.404(a), Government Code, relating to
77	77		active member survivor beneficiaries who receive a survivor annuity
78	78		in an amount fixed by statute.
79	79		(h) The board of trustees of the Teacher Retirement System
80	80		of Texas shall determine the eligibility for and the amount and
81	81		timing of a supplemental payment and the manner in which the payment
82	82		is made.
83	83		SECTION 2. This Act takes effect immediately if it receives
84	84		a vote of two-thirds of all the members elected to each house, as
85	85		provided by Section 39, Article III, Texas Constitution. If this
86	86		Act does not receive the vote necessary for immediate effect, this
87	87		Act takes effect on the 91st day after the last day of the
88	88		legislative session.