| 1 | 1 | | 88R10637 BDP-F |
|---|
| 2 | 2 | | By: Hunter H.B. No. 3441 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to member contributions to the Texas Municipal Retirement |
|---|
| 8 | 8 | | System. |
|---|
| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 10 | | SECTION 1. Section 855.401(a), Government Code, is amended |
|---|
| 11 | 11 | | to read as follows: |
|---|
| 12 | 12 | | (a) Each municipality that has one or more departments |
|---|
| 13 | 13 | | participating in the retirement system by ordinance shall designate |
|---|
| 14 | 14 | | the rate of member contributions for employees. The municipality |
|---|
| 15 | 15 | | shall elect a rate of five, six, [or] seven, or eight percent of the |
|---|
| 16 | 16 | | employees' compensation. All departments of a participating |
|---|
| 17 | 17 | | municipality must have the same employee contribution rate, except |
|---|
| 18 | 18 | | that any municipality that before September 1, 1991, has elected to |
|---|
| 19 | 19 | | have different rates of member contributions in different |
|---|
| 20 | 20 | | departments may continue member contributions in accordance with |
|---|
| 21 | 21 | | its existing ordinances until the municipality elects to equalize |
|---|
| 22 | 22 | | the rates. |
|---|
| 23 | 23 | | SECTION 2. This Act takes effect September 1, 2023. |
|---|