TITLE: Relating to the standard service retirement annuity for certain members of the elected class of the Employees Retirement System of Texas.

SUMMARY: Relating to the standard service retirement annuity for certain members of the elected class of the Employees Retirement System of Texas.

FULL TEXT:
AN ACT relating to the standard service retirement annuity for certain members of the elected class of the Employees Retirement System of Texas. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 814.103, Government Code, is amended by amending Subsection (a) and adding Subsection (c) to read as follows: (a) Except as provided by Subsections [Subsection] (b) and (c),the standard service retirement annuity for service credited in the elected class of membership is an amount equal to the number of years of service credit in that class, times two percent of the state salary, excluding longevity pay payable under Section 659.0445 and as adjusted from time to time, being paid a district judge. (c) The standard service retirement annuity for service credited in the elected class of membership all of which was earned as a member of the legislature is an amount equal to the number of years of service credit in that class, times two percent of $140,000. SECTION 2. The change in law made by this Act applies only to the standard service retirement annuity for a person who is first eligible to become a member of the elected class on or after September 1, 2017. A person who is first eligible to become a member of the elected class before the effective date of this Act is governed by the law in effect immediately before the effective date of this Act, and the former law is continued in effect for that purpose. SECTION 3. This Act takes effect September 1, 2017.