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  H.B. No. 4141
 
 
 
 
AN ACT
  relating to a study conducted by the Teacher Retirement System of
  Texas on the feasibility of offering alternative service retirement
  benefits to peace officers who are members of the retirement
  system.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 825, Government Code, is
  amended by adding Section 825.1085 to read as follows:
         Sec. 825.1085.  STUDY AND REPORT ON ALTERNATIVE SERVICE
  RETIREMENT BENEFITS FOR PEACE OFFICERS. (a) The retirement system
  shall conduct a study on the feasibility of offering members who are
  peace officers alternative service retirement benefits under the
  system.
         (b)  In conducting the study, the retirement system shall
  assess the costs to and impact on the retirement system associated
  with offering members who are peace officers the following
  alternative service retirement benefits:
               (1)  a service retirement benefit under the existing
  benefit plan that:
                     (A)  includes a supplemental benefit for peace
  officers that is substantially similar in design and cost structure
  to the supplemental retirement benefit payable from the law
  enforcement and custodial officer supplemental retirement fund
  established under Section 815.317; and
                     (B)  provides retirement eligibility at any age
  after the member attains 20 or 25 years of service;
               (2)  a service retirement benefit under a cash balance
  benefit plan that:
                     (A)  is substantially similar in design and cost
  structure to the cash balance benefit plan established under
  Chapter 820, except that the plan considered under this subdivision
  may not offer a supplemental retirement benefit for peace officers
  similar to the supplemental retirement benefit for law enforcement
  and custodial officers provided under Chapter 820; and 
                     (B)  provides retirement eligibility at any age
  after the member attains 20 or 25 years of service; and 
               (3)  a cash balance benefit plan that:
                     (A)  is substantially similar in design and cost
  structure to the cash balance benefit plan established under
  Chapter 820, including by providing a supplemental retirement
  benefit for peace officers similar to the supplemental retirement
  benefit provided to law enforcement and custodial officers provided
  under Chapter 820; and
                     (B)  provides retirement eligibility at any age
  after the member attains 20 or 25 years of service. 
         (c)  Not later than March 1, 2024, an employer who employs
  peace officers shall submit the following information to the
  retirement system:
               (1)  the number of peace officers employed by the
  employer on December 31, 2023; 
               (2)  the number of unfilled peace officer positions on
  December 31, 2023; 
               (3)  for the 10-year period before December 31, 2023,
  the average years of service earned by peace officers who resigned
  before retirement; and 
               (4)  the compensation or salary scale for peace
  officers employed by the employer.
         (d)  Not later than December 31, 2024, the retirement system
  shall prepare and submit a report to the legislature that contains
  the findings of the study and the information submitted to the
  retirement system under Subsection (c). 
         (e)  The Legislative Budget Board and the State Pension
  Review Board shall, as necessary:
               (1)  assist the retirement system in conducting the
  study; and 
               (2)  provide the retirement system with any information
  needed to complete the report required under Subsection (d). 
         (f)  This section expires on September 1, 2025. 
         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, 2023.
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
 
         I certify that H.B. No. 4141 was passed by the House on May 2,
  2023, by the following vote:  Yeas 112, Nays 33, 2 present, not
  voting.
 
  ______________________________
  Chief Clerk of the House   
 
 
         I certify that H.B. No. 4141 was passed by the Senate on May
  17, 2023, by the following vote:  Yeas 30, Nays 1.
 
  ______________________________
  Secretary of the Senate    
  APPROVED:  _____________________
                     Date          
   
            _____________________
                   Governor