TITLE: Relating to the composition of the State Pension Review Board.

SUMMARY: Relating to the composition of the State Pension Review Board.

FULL TEXT:
AN ACT relating to the composition of the State Pension Review Board. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 801.102(a), Government Code, is amended to read as follows: (a) The board is composed of nine [seven] members. SECTION 2. Section 801.103, Government Code, is amended to read as follows: Sec. 801.103. MEMBERS APPOINTED BY GOVERNOR. (a) The governor shall appoint, with the advice and consent of the senate, [seven] members to the board. (b) The governor shall appoint to the board: (1) three persons who have experience in the fields of securities investment, pension administration, or pension law but who are not members or retirees of a public retirement system; (2) one person who is a fellow of the Society of Actuaries, a member of the American Academy of Actuaries, or an enrolled actuary under the federal Employee Retirement Income Security Act of 1974 (29 U.S.C. Sec. 1001 et seq.); (3) one person who has experience in the field of governmental finance; (4) one person who is a contributing member of a public retirement system; [and] (5) one person who is receiving retirement benefits from a public retirement system;(6) one person who is selected from a list of three names submitted to the governor by the Texas State Association of Fire Fighters; and (7) one person who is selected from a list of six names submitted to the governor as follows: (A) a list of three names submitted by the Texas Municipal Police Association; and (B) a list of three names submitted by the Combined Law Enforcement Associations of Texas.SECTION 3. Section 801.106, Government Code, is amended to read as follows: Sec. 801.106. TERMS OF OFFICE. Members of the board hold office for staggered terms of six years, with the terms of [two or] three members [ as appropriate] expiring on January 31 of each odd-numbered year. SECTION 4. As soon as practicable after the effective date of this Act, the governor shall appoint the two additional members to the State Pension Review Board from lists provided to the governor as required by Section 801.103, Government Code, as amended by this Act. Notwithstanding Section 801.106, Government Code, as amended by this Act, the members appointed under this section serve terms expiring January 31, 2023. SECTION 5. 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.