This website will be unavailable from Thursday, May 30, 2024 at 6:00 p.m. through Monday, June 3, 2024 at 7:00 a.m. due to data center maintenance.

 
 
  S.B. No. 1626
 
AN ACT
relating to participation in the proportionate retirement program
by certain public employees.
       BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
       SECTION 1.  Section 803.101, Government Code, is amended by
adding Subsections (g) and (h) to read as follows:
       (g)  The governing body of a municipality described by
Section 803.0021(1) that finances a public retirement system for
police officers or firefighters may not approve the retirement
system's election under Subsection (f) to participate in the
proportionate retirement program unless an actuary acting on behalf
of the municipality reviews the initial cost to the municipality of
making the election.
       (h)  If the governing body of a public retirement system
under Subsection (g) adopts a resolution to participate in the
proportionate retirement program, the governing body of the
municipality that finances the retirement system shall appropriate
and pay to the retirement system, at the same time the municipality
makes the municipality's monthly contribution to the retirement
system, the additional amount necessary, as determined by the
retirement system's actuary, to fund the additional liabilities
incurred by the retirement system as a result of participating in
the proportionate retirement program.
       SECTION 2.  This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution.  If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2007.
____________________________________________________________
President of the Senate             Speaker of the House
       I hereby certify that S.B. No. 1626 passed the Senate on
April 24, 2007, by the following vote:  Yeas 31, Nays 0.
______________________________ 
   Secretary of the Senate
       I hereby certify that S.B. No. 1626 passed the House on
May 17, 2007, by the following vote:  Yeas 143, Nays 0, two
present not voting.
______________________________ 
   Chief Clerk of the House
Approved:
______________________________ 
______________________________ 
            Date
______________________________ 
______________________________ 
          Governor