TITLE: Relating to the effective date of retirement for certain members of the Teacher Retirement System of Texas.

SUMMARY: Relating to the effective date of retirement for certain members of the Teacher Retirement System of Texas.

FULL TEXT:
AN ACT relating to the effective date of retirement for certain members of the Teacher Retirement System of Texas. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 824.002(a), Government Code, is amended to read as follows: (a) The effective date of a member's service retirement is the last day of the later of the following months: (1) any month in a three-month period in which the third month is the month in which the member applies for retirement as provided by Section 824.201; (2) the month in which the member satisfies age and service requirements for service retirement as provided by Section 824.202; [or] (3) the month in which the member's employment in a position included in the coverage of the retirement system ends;or (4) if the member applying for retirement is a classroom teacher, the month in which the school year ends for a school year in which the member applies for retirement as provided by Section 824.201.(5) subsection (4) does not apply to a classroom teacher applying for retirement that: (A) is unable to continue employment due to health reason; or (B) has a mutually agreed upon release from duties from a school district. SECTION 2. As soon as practicable after the effective date of this Act, the Teacher Retirement System of Texas shall adopt rules as necessary to implement Section 824.002, Government Code, as amended by this Act. SECTION 3. The changes in law made by this Act apply only to an application for retirement submitted under Chapter 824, Government Code, on or after the effective date of this Act. An application for retirement submitted before the effective date of this Act is governed by the law in effect on the date the application was submitted, and the former law is continued in effect for that purpose. SECTION 4. This Act takes effect September 1, 2023.