| 1 | 1 | | 88R1909 JCG-D |
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| 2 | 2 | | By: Vasut H.B. No. 548 |
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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 a supplemental payment for retirees of the Employees |
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| 8 | 8 | | 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. (a) From funds appropriated for this purpose, |
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| 11 | 11 | | the Employees Retirement System of Texas shall make a one-time |
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| 12 | 12 | | supplemental payment of a retirement or death benefit, as provided |
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| 13 | 13 | | by this section. |
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| 14 | 14 | | (b) A supplemental payment is payable in January 2024, and, |
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| 15 | 15 | | to the extent practicable, on a date or dates that coincide with the |
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| 16 | 16 | | regular annuity payment payable to each eligible annuitant. |
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| 17 | 17 | | (c) The amount of the supplemental payment is equal to the |
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| 18 | 18 | | lesser of: |
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| 19 | 19 | | (1) $2,000; or |
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| 20 | 20 | | (2) the gross amount of the regular annuity payment to |
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| 21 | 21 | | which the eligible annuitant is otherwise entitled for the month of |
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| 22 | 22 | | December 2023. |
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| 23 | 23 | | (d) The Employees Retirement System of Texas shall make |
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| 24 | 24 | | applicable tax withholding and other legally required deductions |
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| 25 | 25 | | before disbursing the supplemental payment. A supplemental payment |
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| 26 | 26 | | under this section is in addition to and not in lieu of the regular |
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| 27 | 27 | | monthly annuity payment to which the eligible annuitant is |
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| 28 | 28 | | otherwise entitled. |
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| 29 | 29 | | (e) Subject to Subsections (f) and (g) of this section, to |
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| 30 | 30 | | be eligible for the supplemental payment, a person must be, for the |
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| 31 | 31 | | month of December 2023, an annuitant eligible to receive: |
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| 32 | 32 | | (1) a standard retirement annuity payment; |
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| 33 | 33 | | (2) an optional service retirement annuity payment as |
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| 34 | 34 | | either a retiree or beneficiary under Section 814.108, Government |
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| 35 | 35 | | Code; |
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| 36 | 36 | | (3) a standard or occupational disability retirement |
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| 37 | 37 | | annuity payment; |
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| 38 | 38 | | (4) a death benefit annuity payment under Section |
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| 39 | 39 | | 814.305, Government Code; or |
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| 40 | 40 | | (5) an alternate payee annuity payment under Section |
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| 41 | 41 | | 804.005, Government Code. |
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| 42 | 42 | | (f) If the annuitant is a retiree or a beneficiary under an |
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| 43 | 43 | | optional retirement payment plan, to be eligible for the |
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| 44 | 44 | | supplemental payment, the effective date of the retirement of the |
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| 45 | 45 | | member of the Employees Retirement System of Texas must have been on |
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| 46 | 46 | | or before September 1, 2022. The supplemental payment shall be made |
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| 47 | 47 | | to an alternate payee who is an annuitant under Section 804.005, |
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| 48 | 48 | | Government Code, only if the annuity payment to the alternate payee |
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| 49 | 49 | | commenced on or before September 1, 2022. The supplemental payment |
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| 50 | 50 | | is in addition to the guaranteed number of payments under Section |
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| 51 | 51 | | 814.108, Government Code, and may not be counted as one of the |
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| 52 | 52 | | guaranteed monthly payments. |
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| 53 | 53 | | (g) The supplemental payment does not apply to payments |
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| 54 | 54 | | under: |
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| 55 | 55 | | (1) Section 814.103 or 814.205, Government Code, |
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| 56 | 56 | | relating to retirees or disability retirees from the elected class |
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| 57 | 57 | | of membership; |
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| 58 | 58 | | (2) a subtitle other than Subtitle B, Title 8, |
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| 59 | 59 | | Government Code, except as provided by Subsection (e)(5) of this |
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| 60 | 60 | | section; or |
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| 61 | 61 | | (3) Section 814.304, Government Code, relating to |
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| 62 | 62 | | retiree survivor beneficiaries who receive a survivor annuity as |
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| 63 | 63 | | the surviving spouse of a member of the elected class. |
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| 64 | 64 | | (h) Except as provided by this section, the board of |
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| 65 | 65 | | trustees of the Employees Retirement System of Texas shall |
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| 66 | 66 | | determine the eligibility for and the amount and timing of a |
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| 67 | 67 | | supplemental payment and the manner in which the payment is made. |
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| 68 | 68 | | (i) The supplemental payment is subject solely to the |
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| 69 | 69 | | availability of appropriated funds. The supplemental payment must |
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| 70 | 70 | | comply with Section 811.006, Government Code. |
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| 71 | 71 | | SECTION 2. This Act takes effect September 1, 2023. |
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