Journal of the Senate of Texas: 83rd Legislature, Regular Session, Wednesday, May 8, 2013 Page: 1,618
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1618 83rd Legislature - Regular Session 55th Day
SECTION 5. Section 825.402, Government Code, is amended to read as
follows:
Sec. 825.402. RATE OF MEMBER CONTRIBUTIONS. [()] The rate of
contributions for each member of the retirement system is:
(1) five percent of the member's annual compensation or $180, whichever is
less, for service rendered after August 31, 1937, and before September 1, 1957;
(2) six percent of the first $8,400 of the member's annual compensation for
service rendered after August 31, 1957, and before September 1, 1969;
(3) six percent of the member's annual compensation for service rendered
after August 31, 1969, and before the first day of the 1977-78 school year;
(4) 6.65 percent of the member's annual compensation for service rendered
after the last day of the period described by Subdivision (3) and before September 1,
1985[xai4]
(5) 6.4 percent of the member's annual compensation for service rendered
after August 31, 1985, and before September 1, 2014;
(6) 7.7 percent of the member's annual compensation for service rendered
after August 31, 2014, and before September 1, 2015; and
(7) for service rendered on or after September 1, 2015, the lesser of:
(A) 7.7 percent of the member's annual compensation; or
(B) a percentage of the member's annual compensation equal to 7.7
percent reduced by one-tenth of one percent for each one-tenth of one percent that the
state contribution rate for the fiscal year to which the service relates, is less than the
state contribution rate established for the 2015 fiscal year [, to Subsectio(b].
indeed to not moe ~ethan 6.544eren ftemme' nulemesto o
serve rendered aer: the date o the border i f:
(1) the legislature by law requires or authorizes the board of trustees to pay
a supplemental payment to specified annuitants; and
(2) the board of trustees finds, as of the time the payment is to be made, that
after the payment is made the amortization period for the unfunded actuarial liabilities
of the retirement system would exceed 30 years by one or more years.
(c) Notwithstanding any other law, the board of trustees may not make a
supplemental payment required or authorized by the legislature by law, and may not
impose an increase in the rate of contributions under Subsection (b), if the board of
trustees finds that after making the payment and imposing the increase the
amortization period for the unfunded actuarial liabilities of the retirement system
would exceed 30 years by one or more years.
(d) Notwithstanding any other law, the board of trustees may delay making a
supplemental payment required or authorized by the legislature by law as necessary to
make the determinations required under Subsections (b) and (c).]
(4) Strike SECTION 7 of the bill, adding Section 825.4035, Government Code
(page 4, lines 26 through 57), and substitute the following appropriately numbered
SECTION:1618
83rd Legislature- Regular Session
55th Day
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Texas. Legislature. Senate. Journal of the Senate of Texas: 83rd Legislature, Regular Session, Wednesday, May 8, 2013, legislative document, May 8, 2013; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth641149/m1/36/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.