HB4802 - Relating to certain benefits payable by the Judicial Retirement System of Texas Plan One and the Judicial Retirement System of Texas Plan Two.

      By: Cook, Longoria, Smithee, Spiller, Leach, H.B. No. 4802       et al.     A BILL TO BE ENTITLED   AN ACT   relating to certain benefits payable by the Judicial Retirement   System of Texas Plan One and the Judicial Retirement System of Texas   Plan Two.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  (a)  This section applies to an annuitant under   the Judicial Retirement System of Texas Plan One or the Judicial   Retirement System of Texas Plan Two who is eligible to receive:                (1)  a service or disability retirement annuity under   Section 834.102, 834.103, 834.203, 839.102, 839.103, or 839.203,   Government Code, that is based on an effective date of retirement   that occurred on or before September 1, 2024; or                (2)  a death benefit annuity under Section 834.301,   834.302, 839.301, or 839.302, Government Code, that is based on a   death that occurred on or before September 1, 2024.          (b)  Notwithstanding any other law:                (1)  on September 1, 2025, the Employees Retirement   System of Texas shall recompute each annuity being paid an   annuitant under Section 834.102, 834.103, 834.203, 834.301,   834.302, 839.102, 839.103, 839.203, 839.301, or 839.302,   Government Code, by multiplying the amount of the monthly annuity   being paid under those sections by five percent and applying the   adjustment to the amount otherwise being paid under those sections;   and                (2)  on September 1, 2026, the Employees Retirement   System of Texas shall recompute each annuity being paid an   annuitant under the sections of law described in Subdivision (1) of   this subsection, by multiplying the amount of the monthly annuity   being paid under those sections by five percent and applying the   adjustment to the amount otherwise being paid under those sections.          SECTION 2.  The Employees Retirement System of Texas is   required to make the cost-of-living adjustments under Section 1 of   this Act only if the board of trustees of the Employees Retirement   System of Texas finds that the legislature appropriated money to   the Judicial Retirement System of Texas Plan One and the Judicial   Retirement System of Texas Plan Two in an amount sufficient to   provide the adjustments without increasing the unfunded actuarial   liabilities of the retirement system.  The amount appropriated by   the legislature to provide the adjustments must be in addition to   any amounts the state is required to contribute to the retirement   system under Subchapter B, Chapter 835, or Subchapter B, Chapter   840, Government Code. If the board of trustees of the Employees   Retirement System of Texas finds that the legislature did not   appropriate money in an amount sufficient to provide the   cost-of-living adjustments without increasing the unfunded   actuarial liabilities of the retirement system, the retirement   system may not make the adjustments.          SECTION 3.  The adjustment of benefits required under   Section 1 of this Act applies only to an annuity payment that   becomes payable on or after the effective date of this Act.          SECTION 4.  This Act takes effect September 1, 2025.