| 1 | 1 | | 88R10650 JCG-D |
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| 2 | 2 | | By: Burns, Plesa H.B. No. 3254 |
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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 purchase of service credit by certain members of the |
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| 8 | 8 | | Employees Retirement System of Texas. |
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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 813.514, Government Code, is amended by |
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| 11 | 11 | | amending Subsection (a-1) and adding Subsections (f) and (g) to |
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| 12 | 12 | | read as follows: |
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| 13 | 13 | | (a-1) A member may establish service credit under this |
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| 14 | 14 | | section in the employee class only for service performed during a |
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| 15 | 15 | | 90-day waiting period to become a member after beginning employment |
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| 16 | 16 | | or holding office. The member may establish service credit for each |
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| 17 | 17 | | month of any 90-day waiting period in which the member performed |
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| 18 | 18 | | service, regardless of whether the member made a contribution |
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| 19 | 19 | | during the 90-day waiting period for which the member establishes |
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| 20 | 20 | | service credit. |
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| 21 | 21 | | (f) Notwithstanding any other provision of this subtitle, |
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| 22 | 22 | | if a member purchases service credit under this section for a month |
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| 23 | 23 | | that occurred before the member's most recent date of hiring, the |
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| 24 | 24 | | retirement system shall consider for purposes of this subtitle the |
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| 25 | 25 | | member's date of hiring to be the first day of the month of the |
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| 26 | 26 | | earliest month for which service credit is purchased under this |
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| 27 | 27 | | section. |
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| 28 | 28 | | (g) The retirement system shall compute the amount of the |
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| 29 | 29 | | deposit required by this section in a manner that does not result in |
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| 30 | 30 | | an actuarial loss to the retirement system. |
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| 31 | 31 | | SECTION 2. This Act takes effect September 1, 2023. |
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