88R4555 JCG-D
By: VanDeaver H.B. No. 3561
A BILL TO BE ENTITLED
AN ACT
relating to the payment of certain contributions for retirees of
the Teacher Retirement System of Texas who resume service.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 825.4092, Government Code, is amended by
adding Subsection (h) to read as follows:
(h) Notwithstanding any other provision of this section,
the amounts required to be paid under Subsections (b) and (c) are
not required to be paid by a reporting employer for the state fiscal
years beginning September 1, 2023, and September 1, 2024. This
subsection:
(1) does not apply to a reporting employer who is an
institution of higher education; and
(2) expires January 1, 2029.
SECTION 2. (a) In addition to amounts contributed by the
state to the Teacher Retirement System of Texas under Section
825.404, Government Code, and Section 1575.202, Insurance Code, the
state shall contribute to the system for the fiscal years beginning
September 1, 2023, and September 1, 2024, an amount equal to the
total amount of contributions reporting employers would have
remitted to the retirement system under Sections 825.4092(b) and
(c), Government Code, for employed retirees during each respective
fiscal year, as if Section 825.4092(h), Government Code, as added
by this Act, did not apply with respect to those retirees'
employment during each fiscal year.
(b) The board of trustees of the Teacher Retirement System
of Texas, in coordination with the Legislative Budget Board, shall
certify to the comptroller of public accounts for review and
adoption an estimate of the amount necessary to pay the state
contribution required by Subsection (a) of this section. For
administrative convenience, the board may meet the requirement of
this subsection by revising the certified estimates required under
Section 825.404, Government Code, and Section 1575.209, Insurance
Code.
(c) In the same manner prescribed by Sections 403.093(c),
825.404(e), and 825.4092(c), Government Code, and Section
1575.210, Insurance Code, each month the comptroller shall transfer
from the general revenue fund to the appropriate trust fund of the
retirement system equal monthly installments of the contribution
required by Subsection (a) of this section. If the appropriation
provided by the legislature is different from the amount of state
contribution required under Subsection (a) of this section, the
comptroller, after the end of the fiscal year and in the same manner
prescribed by Section 403.093(c), Government Code, and Section
1575.210, Insurance Code, shall make adjustments in the applicable
trust fund and the general revenue fund so that the total transfers
during the year equal the total amount of the state contribution
required for that year.
(d) Notwithstanding any other law, the contributions
required by this section do not increase or otherwise affect
contributions required or made under another law, including Section
825.404, 825.4041, 825.405, 825.406, 825.407, or 825.4071,
Government Code.
SECTION 3. This Act takes effect September 1, 2023.