88(R) SB 10 - Enrolled version - Bill Text

	S.B.  No.  10

Statutes affected:
Introduced: ()
Engrossed: ()
House Committee Report: Government Code 825.402 (Government Code 825)
Enrolled: (Government Code 825)

	AN ACT
	relating to certain benefits paid by the Teacher Retirement System
	of Texas.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION  1.    Subchapter H, Chapter 824, Government Code, is
	amended by adding Section 824.703 to read as follows:
	Sec.  824.703.    COST-OF-LIVING ADJUSTMENT:  JANUARY 2024.
	(a)  The retirement system shall make a one-time cost-of-living
	adjustment payable to annuitants receiving a monthly death or
	retirement benefit annuity, as provided by this section.
	(b)    Subject to Subsection (c) and except as provided by
	Subsection (d), to be eligible for the adjustment, a person must be,
	on the effective date of the adjustment and disregarding any
	forfeiture of benefits under Section 824.601, an annuitant eligible
	to receive:
	(1)    a standard service or disability retirement
	annuity payment;
	(2)    an optional service or disability retirement
	annuity payment as either a retiree or beneficiary;
	(3)    an annuity payment under Section 824.402(a)(3) or
	(4);
	(4)    an annuity payment under Section 824.502; or
	(5)    an alternate payee annuity payment under Section
	804.005.
	(c)    If the annuitant:
	(1)    is a retiree, or is a beneficiary under an optional
	service or disability retirement payment plan, to be eligible for
	the adjustment under this section:
	(A)    the annuitant must be living on the effective
	date of the adjustment; and
	(B)    the effective date of the retirement of the
	member of the retirement system on whose service the annuity is
	based must have been on or before August 31, 2020;
	(2)    is a beneficiary under Section 824.402(a)(3) or
	(4) or 824.502, to be eligible for the adjustment:
	(A)    the annuitant must be living on the effective
	date of the adjustment; and
	(B)    the date of death of the member of the
	retirement system on whose service the annuity is based must have
	been on or before August 31, 2020; or
	(3)    is an alternate payee under Section 804.005, to be
	eligible for the adjustment:
	(A)    the annuitant must be living on the effective
	date of the adjustment; and
	(B)    the effective date of the annuitant's
	election to receive the annuity payment was on or before August 31,
	2020.
	(d)    An adjustment made under this section does not apply to
	payments under:
	(1)    Section 824.203(d), relating to retirees who
	receive a standard service retirement annuity in an amount fixed by
	statute;
	(2)    Section 824.304(a), relating to disability
	retirees with less than 10 years of service credit;
	(3)    Section 824.304(b)(2), relating to disability
	retirees who receive a disability annuity in an amount fixed by
	statute;
	(4)    Section 824.404(a), relating to active member
	survivor beneficiaries who receive a survivor annuity in an amount
	fixed by statute;
	(5)    Section 824.501(a), relating to retiree survivor
	beneficiaries who receive a survivor annuity in an amount fixed by
	statute; or
	(6)    Section 824.804(b), relating to participants in
	the deferred retirement option plan with regard to payments from