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A BILL TO BE ENTITLED
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AN ACT
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relating to contributions to the Employees Retirement System of |
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Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 815.402(a), Government Code is amended |
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to read as follows: |
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(a) Except as provided by Section 813.201, each payroll |
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period, each department or agency of the state shall cause to be |
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deducted from each member's compensation a contribution of: |
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(1) 8.0 [6.6 percent of the compensation if the member
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is not a member of the legislature, for service rendered after
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August 31, 2013, and before September 1, 2014;
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[(2) 6.9 percent of the compensation if the member is
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not a member of the legislature, for service rendered after August
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31, 2014, and before September 1, 2015;
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[(3) 7.2] percent of the compensation if the member is not a |
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member of the legislature, for service rendered after August 31, |
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2015, and before September 1, 2017 [2016]; |
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(2) [(4) 7.5 percent of the compensation if the member
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is not a member of the legislature, for service rendered after
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August 31, 2016;
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[(5)] for service by a member who is not a member of the |
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legislature rendered on or after September 1, 2017, the lesser of: |
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(A) 8.0 [7.5] percent of the member's annual |
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compensation; or |
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(B) a percentage of the member's annual |
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compensation equal to 8.0 [7.5] percent reduced by one-tenth of one |
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percent for each one-tenth of one percent that the state |
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contribution rate for the fiscal year to which the service relates |
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is less than the state contribution rate established for the 2017 |
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[2015] fiscal year; or |
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(3) [(6)] eight percent of the compensation if the |
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member is a member of the legislature. |
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SECTION 2. Section 815.403(a)(1), Government Code is |
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amended to read as follows: |
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(1) an amount equal to 10.0 [7.4] percent of the total |
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compensation of all members of the retirement system for that year; |
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SECTION 3. Section 815.4035(a), Government Code is amended |
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to read as follows: |
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Sec. 815.4035. COLLECTION OF STATE RETIREMENT |
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CONTRIBUTION. (a) Except as provided by Section 813.201, the board |
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of trustees shall assess each employer whose employees are members |
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of the retirement system a state retirement contribution in an |
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amount equal to 1.0 [0.5] percent of the employer's total payroll, |
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as determined by the General Appropriations Act. |
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SECTION 4. This Act takes effect September 1, 2015. |