| 1 | 1 | | 88R1015 BDP-D |
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| 2 | 2 | | By: Rose H.B. No. 1473 |
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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 standard service and disability retirement benefits |
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| 8 | 8 | | for members of the employee class of the Employees Retirement |
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| 9 | 9 | | System of Texas. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 814.105(a), Government Code, is amended |
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| 12 | 12 | | to read as follows: |
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| 13 | 13 | | (a) The standard service retirement annuity for service |
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| 14 | 14 | | credited in the employee class of membership is an amount computed |
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| 15 | 15 | | as the member's average monthly compensation for service in that |
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| 16 | 16 | | class for the 60 highest months of compensation multiplied by 2.7 |
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| 17 | 17 | | [2.3] percent for each year of service credit in that class. |
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| 18 | 18 | | SECTION 2. Section 814.206(a), Government Code, is amended |
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| 19 | 19 | | to read as follows: |
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| 20 | 20 | | (a) Except as provided by Subsection (b) and Section |
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| 21 | 21 | | 814.207, a standard disability retirement annuity for service |
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| 22 | 22 | | credited in the employee class of membership is an amount computed |
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| 23 | 23 | | at the rate of 2.7 [2.3] percent for each year of service credit in |
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| 24 | 24 | | that class, times the member's average monthly compensation. |
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| 25 | 25 | | SECTION 3. This Act takes effect September 1, 2023. |
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