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                                                                  H.B. No. 3169




AN ACT
relating to purchase of equivalent membership service credit in the Teacher Retirement System of Texas. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 825.307(a), Government Code, is amended to read as follows: (a) The retirement system shall deposit in a member's individual account in the member savings account: (1) the amount of contributions to the retirement system that is deducted from the member's compensation; (2) the portion of a deposit made on or after resumption of membership that represents the amount of retirement benefits received; (3) the portion of a deposit to reinstate service credit previously canceled that represents the amount withdrawn or refunded; (4) the portion of a deposit to establish military service credit required by Section 823.302(c); (5) the portion of a deposit to establish equivalent membership service credit required by Section 823.401(d), 823.402(e)(1) or (e)(2), or 823.404(c)[, 823.405, or 823.3021(f)(1)]; and (6) interest earned on money in the account as provided by Subsections (b) and (c) and Section 825.313(c). SECTION 2. Section 823.405, Government Code, is repealed. SECTION 3. Unless the agreement is terminated before all payments are made, the change in law made by this Act does not apply to an agreement that existed immediately before January 1, 2006, between an individual and the Teacher Retirement System of Texas for the purchase in installments of service credit under Section 823.405, Government Code. SECTION 4. (a) Except as provided by Subsections (b) and (c) of this section, this Act takes effect September 1, 2005. (b) The change in law made by this Act to Section 825.307(a), Government Code, takes effect January 1, 2009. (c) Section 2 of this Act takes effect January 1, 2006. ______________________________ ______________________________ President of the Senate Speaker of the House I certify that H.B. No. 3169 was passed by the House on May 13, 2005, by a non-record vote. ______________________________ Chief Clerk of the House I certify that H.B. No. 3169 was passed by the Senate on May 25, 2005, by the following vote: Yeas 31, Nays 0. ______________________________ Secretary of the Senate APPROVED: _____________________ Date _____________________ Governor