83rd Texas Legislature, Regular Session, Senate Bill 1458, Chapter 1214 Page: 3 of 18
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S.B. No. 1458
1 following table:
2 Age at date of 55 56 57 58 59 60 61 62 63 64 65
3 retirement
4 Percentage of 47% 51% 55% 59% 63% 67% 73% 80% 87% 93% 100%
5 standard annuity
6 receivable
7 (b-1) This subsection applies only to a person who becomes a
8 member of the retirement system on or after September 1, 2007, and
9 who is not subject to Subsection (b-2). If a member subject to this
10 subsection is at least 55 years old and has at least five years of
11 service credit in the retirement system, but does not meet the
12 requirements under Subsection (d-l), the member is eligible to
13 retire and receive a service retirement annuity reduced from the
14 standard service retirement annuity available under Subsection
15 (a-I) (1), to a percentage derived from the following table:
16 Age at date of 55 56 57 58 59 60 61 62 63 64 65
17 retirement
18 Percentage of 47% 51% 55% 59% 63% 67% 73% 80% 87% 93% 100%19 standard annuity
20 receivable
21 (b-2) This subsection applies only to a person who does not
22 have at least five years of service credit in the retirement system
23 on or before August 31, 2014, or who becomes a member of the
24 retirement system on or after September 1, 2014. If a member
25 subject to this subsection is at least 55 years old and has at least
26 five years of service credit in the retirement system, but does not
27 meet the requirements under Subsection (d-2), the member is3
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Texas. Legislature. Senate. 83rd Texas Legislature, Regular Session, Senate Bill 1458, Chapter 1214, legislative document, June 14, 2013; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth439188/m1/3/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.