The text as introduced · 719 words
By: Ashby
H.B. No. 4945
A BILL TO BE ENTITLED
AN ACT
relating to a study conducted by the Teacher Retirement System of
Texas on the feasibility of offering alternative service retirement
benefits to Texas A&M Forest Service wildland firefighters that are
members of the retirement system.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 825, Government Code, is
amended by adding Section 825.1086 to read as follows:
Section 825.1086. STUDY AND REPORT ON ALTERNATIVE SERVICE
RETIREMENT BENEFITS FOR CERTAIN WILDLAND FIREFIGHTERS. (a) The
retirement system shall conduct a study on the feasibility of
offering members who are Texas A&M Forest Service wildland
firefighters alternative service retirement benefits under the
system.
(b) In conducting the study, the retirement system shall
assess the costs to and impact on the retirement system associated
with offering members who are Texas A&M Forest Service wildland
firefighters the following alternative service retirement
benefits:
(1) a service retirement benefit under the existing
benefit plan that that provides retirement eligibility within a new
tier described as Hazardous Duty for:
(A) a member who is at least 55 years old and who
has at least 10 years of service credit in the appropriate field;
(B) a member who is at any age and has 25 years of
service; or
(C) a member has 20 years of service that will be
actuarily reduced by 5% for every year that is under the normal
requirements within this tier; and
(2) a service retirement benefit under the existing
plan that provides retirement eligibility within a new tier
described as Hazardous Duty-Administrative Support for:
(A) a member who has become vested and has spent
entire employment up to date of being vested in a wildland
firefighter role within the Texas A&M Forest Service; or
( B) a member who has transferred out of a primary
wildland firefighter role to a support role within Texas A&M Forest
Service after the date of being fully vested.
(c) The standard service annuity for a member who qualifies
under Subsection (b) is an amount computed on the basis of the
member's average annual compensation for the five years of service,
whether or not consecutive, in which the member received the
highest annual compensation, times the sum of the percentage factor
used in the computation of a standard service retirement annuity
under Section 824.203 plus 0.5 percent. Members that transfer into
Hazardous Duty-Administrative Support will be able to retain the
reduced service age requirements but will only earn service by the
normal age percentage factor, as described under Section 824.203.
(d) No later than March 1, 2026, the retirement system shall
begin meeting with the Texas A&M Forest Service to determine:
(1) positions that will qualify for benefits outlined
in Subsection (b) and the salaries of both existing and terminated
employees that qualified beginning on September 1, 2009;
(2) the effectiveness of additional 0.5 percent to the
percentage factor under Section 824.203 or an accrual rate that is
feasible for a member to retire at reduced service age
requirements, while maintaining the actuarial soundness of the
pension fund;
(3) the additional percentage of salary contribution
needed by both the employer and employee to sustain the additional
tiers described by subsection (b) while maintaining actuarial
soundness within the pension fund;
(4) the cost to cover the additional employer and
employee contributions needed between September 1, 2009 to present
day; and
(5) the cost and implications of benefits being
extended to reduced retirement ages in subsection (b).
(e) No later than December 31, 2026, the retirement system
shall prepare and submit a report that contains the findings of the
study and the information submitted to the retirement system under
Subsection (d).
(f) The Legislative Budget Board and the State Pension
Review Board shall, as necessary:
(1) assist the retirement system in conducting the
study; and
(2) provide the retirement system with any information
needed to complete the report required under subsection (e).
(g) This section expires on September 1, 2027.
SECTION 2. 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. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2025.
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