Texas 2023 - 88th Regular

Texas House Bill HB830 Compare Versions

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Old	New	Differences
1	1	88R2790 BDP-D
2	2	By: Allen H.B. No. 830
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to certain benefits paid by the Employees Retirement
8	8	System of Texas.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Subchapter G, Chapter 814, Government Code, is
11	11	amended by adding Sections 814.605 and 814.606 to read as follows:
12	12	Sec. 814.605. ONE-TIME ADJUSTMENT TO BENEFITS. (a) The
13	13	amount of a monthly service retirement benefit, disability
14	14	retirement benefit, or death benefit paid under this chapter to a
15	15	retiree or beneficiary for service credited in the employee class
16	16	is increased to include a one-time 10 percent adjustment in
17	17	accordance with this section.
18	18	(b) The board of trustees shall recompute the amount of a
19	19	benefit paid monthly under this chapter by applying the 10 percent
20	20	adjustment to the monthly amount otherwise required to be paid as
21	21	determined in accordance with this chapter.
22	22	Sec. 814.606. ANNUAL COST-OF-LIVING ADJUSTMENT. (a)
23	23	Notwithstanding Section 814.605, the amount of a monthly service
24	24	retirement benefit, disability retirement benefit, or death
25	25	benefit paid under this chapter to a retiree or beneficiary for
26	26	service credited in the employee class is increased to include a
27	27	four percent annual cost-of-living adjustment in accordance with
28	28	this section.
29	29	(b) On January 1 of each year, the board of trustees shall
30	30	recompute the amount of a benefit paid monthly under this chapter by
31	31	applying the four percent adjustment to the monthly amount
32	32	otherwise required to be paid as determined in accordance with this
33	33	chapter.
34	34	SECTION 2. (a) The Employees Retirement System of Texas
35	35	shall make a one-time supplemental payment of a retirement or death
36	36	benefit, as provided by this section.
37	37	(b) A supplemental payment is payable in January 2024, and,
38	38	to the extent practicable, on a date or dates that coincide with the
39	39	regular annuity payment payable to each eligible annuitant.
40	40	(c) The amount of the supplemental payment is equal to the
41	41	lesser of:
42	42	(1) $2,000; or
43	43	(2) the gross amount of the regular annuity payment to
44	44	which the eligible annuitant is otherwise entitled for the month of
45	45	December 2023.
46	46	(d) The Employees Retirement System of Texas shall make
47	47	applicable tax withholding and other legally required deductions
48	48	before disbursing the supplemental payment. A supplemental payment
49	49	under this section is in addition to and not in lieu of the regular
50	50	monthly annuity payment to which the eligible annuitant is
51	51	otherwise entitled.
52	52	(e) Subject to Subsections (f) and (g) of this section, to
53	53	be eligible for the supplemental payment, a person must be, for the
54	54	month of December 2023, an annuitant eligible to receive:
55	55	(1) a standard retirement annuity payment;
56	56	(2) an optional service retirement annuity payment as
57	57	either a retiree or beneficiary under Section 814.108, Government
58	58	Code;
59	59	(3) a standard or occupational disability retirement
60	60	annuity payment;
61	61	(4) a death benefit annuity payment under Section
62	62	814.305, Government Code; or
63	63	(5) an alternate payee annuity payment under Section
64	64	804.005, Government Code.
65	65	(f) If the annuitant is a retiree or a beneficiary under an
66	66	optional retirement payment plan, to be eligible for the
67	67	supplemental payment, the effective date of the retirement of the
68	68	member of the Employees Retirement System of Texas must have been on
69	69	or before September 1, 2022. The supplemental payment shall be made
70	70	to an alternate payee who is an annuitant under Section 804.005,
71	71	Government Code, only if the annuity payment to the alternate payee
72	72	commenced on or before September 1, 2022. The supplemental payment
73	73	is in addition to the guaranteed number of payments under Section
74	74	814.108, Government Code, and may not be counted as one of the
75	75	guaranteed monthly payments.
76	76	(g) The supplemental payment does not apply to payments
77	77	under:
78	78	(1) Section 814.103 or 814.205, Government Code,
79	79	relating to retirees or disability retirees from the elected class
80	80	of membership;
81	81	(2) a subtitle other than Subtitle B, Title 8,
82	82	Government Code, except as provided by Subsection (e)(5) of this
83	83	section; or
84	84	(3) Section 814.304, Government Code, relating to
85	85	retiree survivor beneficiaries who receive a survivor annuity as
86	86	the surviving spouse of a member of the elected class.
87	87	(h) Except as provided by this section, the board of
88	88	trustees of the Employees Retirement System of Texas shall
89	89	determine the eligibility for and the amount and timing of a
90	90	supplemental payment and the manner in which the payment is made.
91	91	(i) The supplemental payment is subject solely to the
92	92	availability of appropriated funds. The supplemental payment must
93	93	comply with Section 811.006, Government Code.
94	94	SECTION 3. Section 814.604, Government Code, is repealed.
95	95	SECTION 4. Sections 814.605 and 814.606, Government Code,
96	96	as added by this Act, apply only to a monthly benefit payment made
97	97	by the Employees Retirement System of Texas on or after September 1,
98	98	2023.
99	99	SECTION 5. This Act takes effect September 1, 2023.