H.B. No. 2434 amends Section 813.514 of the Government Code to allow members of the Employees Retirement System of Texas to establish service credit for each month of a 90-day waiting period during which they performed service, regardless of whether they made contributions during that time. This change enables members to receive credit for service performed before their official hiring date, with the retirement system considering the member's hiring date as the first day of the month for which service credit is purchased.

Additionally, the bill mandates that the retirement system compute the required deposit for purchasing service credit in a way that avoids any actuarial loss to the system. The provisions of this bill will take effect on September 1, 2025.

Statutes affected:
Introduced: Government Code 813.514 (Government Code 813)
House Committee Report: Government Code 813.514 (Government Code 813)
Engrossed: Government Code 813.514 (Government Code 813)
Senate Committee Report: Government Code 813.514 (Government Code 813)
Enrolled: Government Code 813.514 (Government Code 813)