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A BILL TO BE ENTITLED
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AN ACT
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relating to the inclusion of overtime pay in the computation of |
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benefits for members of the Employees Retirement System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 811.001(7), Government Code, is amended |
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to read as follows: |
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(7) "Compensation" means the base salary of a person; |
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overtime pay; amounts that would otherwise qualify as compensation |
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but are not received directly by a person pursuant to a good faith, |
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voluntary, written salary reduction agreement in order to finance |
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payments to a deferred compensation or tax sheltered annuity |
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program specifically authorized by state law or to finance benefit |
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options under a cafeteria plan qualifying under Section 125 of the |
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Internal Revenue Code of 1986 (26 U.S.C. Section 125); longevity |
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and hazardous duty pay; nonmonetary compensation, the value of |
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which is determined by the retirement system; amounts by which a |
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person's salary is reduced under a salary reduction agreement |
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authorized by Chapter 610; and the benefit replacement pay a person |
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earns under Subchapter H, Chapter 659, as added by Chapter 417, Acts |
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of the 74th Legislature, 1995, except for the benefit replacement |
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pay a person earns as a result of a payment made under Subchapter B, |
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C, or D, Chapter 661. The term excludes [overtime pay and] a |
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cleaning or clothing allowance. |
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SECTION 2. The change in law made by this Act applies only |
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to a member of the Employees Retirement System of Texas who retires |
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on or after the effective date of this Act. A member who retires |
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before the effective date of this Act is subject to the law in |
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effect on the date of the member's retirement, and that law is |
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continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2017. |