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Texas House Bill HJR5

Texas 2023 - 88th Regular

Texas House Bill HJR5 Compare Versions

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11 88R2168 BDP-D
22 By: Canales H.J.R. No. 5
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55 A JOINT RESOLUTION
66 proposing a constitutional amendment to increase the minimum amount
77 that the state may contribute to the Employees Retirement System of
88 Texas and the Teacher Retirement System of Texas.
99 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1010 SECTION 1. Section 67(b)(3), Article XVI, Texas
1111 Constitution, is amended to read as follows:
1212 (3) The amount contributed by a person participating
1313 in the Employees Retirement System of Texas or the Teacher
1414 Retirement System of Texas shall be established by the legislature
1515 but may not be less than six percent of current compensation. The
1616 amount contributed by the state may not be less than seven [six]
1717 percent nor more than 10 percent of the aggregate compensation paid
1818 to individuals participating in the system. In an emergency, as
1919 determined by the governor, the legislature may appropriate such
2020 additional sums as are actuarially determined to be required to
2121 fund benefits authorized by law.
2222 SECTION 2. This proposed constitutional amendment shall be
2323 submitted to the voters at an election to be held November 7, 2023.
2424 The ballot shall be printed to permit voting for or against the
2525 proposition: "The constitutional amendment to increase the minimum
2626 amount of the state's annual contribution to the Employees
2727 Retirement System of Texas and the Teacher Retirement System of
2828 Texas from six to seven percent of the total compensation paid to
2929 individuals participating in each system."